Heat oven to 400°F. Spray 15x10x1-inch pan with cooking spray.
On bottom half of each croissant, spread 2 tablespoons cream cheese and 2 teaspoons preserves; sprinkle each with 1 tablespoon chocolate chips. Replace top halves of croissants. Place in pan.
Bake uncovered 7 to 9 minutes or until heated through. Sprinkle with powdered sugar. Serve warm.