Prepare an 8-inch square baking dish with cooking spray.

Cook and stir peanut butter, corn syrup, brown sugar, and butter together in a large saucepan over medium-low heat until boiling. Fold crispy rice cereal and peanuts into the peanut butter mixture; press into the prepared baking dish. Sprinkle chocolate chips evenly over the top of the hot mixture. Let chocolate chips melt; spread chocolate over the top in an even layer.

Refrigerate until the mixture hardens, about 1 hour.