Line an 11 x 7-inch baking pan with parchment paper.
Place 1 cup of chocolate chips and 3 tablespoons of peanut butter in a heatproof bowl. Microwave for 60 seconds and stir until smooth and combined. Microwave for few more seconds if needed.
Pour melted chocolate in prepared pan and spread evenly. Place pan in the freezer for 2-3 minutes or until hardened.
Meanwhile, in a clean bowl place marshmallow fluff, 1/4 cup peanut butter, and confectioners' sugar. With a wooden spoon, stir until it forms a soft nougat.
Place nougat between 2 pieces of waxed or parchment paper and roll into an 11 x 7-inch rectangle, then press the rectangle on top of chocolate layer with your fingers.
Sprinkle peanuts evenly over nougat , gently pressing them in.
In a small saucepan, add the caramels and heavy cream. Cook over medium heat, stirring constantly until melted. Immediately pour over peanuts, spreading it all over with the back on a spoon. Refrigerate for 5 minutes until set.
In a heatproof bowl, melt remaining 1 cup chocolate chips and 3 tablespoons peanut butter. Pour over caramel layer, spreading evenly. Place pan in fridge for 10 minutes until chocolate is set.