2 cups 8 ounces walnuts
1 cup peanut butter flavored pieces
1 cup milk chocolate chips
1 cup brown sugar, packed
1/2 cup light-colored corn syrup
1/4 cup butter
2/3 cup sweetened condensed milk
1/2 teaspoon vanilla
25 pretzel rods
In a food processor combine walnuts, peanut butter pieces, and milk chocolate pieces. Cover and process until mixture is coarsely copped (or coarsely chop nuts, peanut butter and chocolate pieces with aknife and combine). Transfer to a large bowl; set aside.
In a small heavy saucepan combine brown sugar, corn syrup and butter. Bring to boiling over medium heat, stirring constantly. Stir in sweetened condensed milk. Return to boiling over medium heat, stirring constantly. Reduce heat to medium low. Clip a candy thermometer to side of pan. Continue booking, stirring constantly, until mixture reaches 236 degrees, soft ball state (about 10 minutes). Adjust heat as necessary to maintain a steady boil. Remove saucepan from heat; stir in vanilla. Cool 15-20 minutes or until slightly thickened.
Dip each pretzel into caramel mixture, covering about 2/3 or pretzel. Let caramel drip off slightly. Spoon or roll some of the chopped mixture onto the caramel on the pretzel, pressing crumbs lightly with back of spoon. Let stand on nonstick foil until caramel is set. Stor in an airtight container between layers of wax paper in refrigerator up to 4 days or freeze up to a month.