Preparation:

Step 1:
Line a 9×13-inch baking pan with parchment paper or grease it well.

Step 2:
In a medium saucepan, combine sugar, marshmallow cream, evaporated milk, and butter. Cook over medium heat, stirring constantly until it reaches a gentle boil. Let it boil for 5 minutes while continuing to stir.

Step 3:
Remove from heat and immediately mix in the cherry chips until fully melted and smooth. Pour the cherry mixture into the prepared pan and spread it evenly. Let it set slightly at room temperature.

Step 4:
In a separate saucepan over low heat, melt the chocolate chips and peanut butter, stirring until smooth. Once melted, stir in the crushed peanuts until well combined.

Step 5:
Spread the chocolate-peanut mixture over the cherry layer. Smooth the top with a spatula and refrigerate until the bars are completely firm.