Put both bags of chips in a large pot or dutch oven over the lowest setting* on your stove. Stir with a wooden spoon until the chips have melted.
*very important or the chocolate may burn!
Remove from heat and add the chow mein noodles and break some up with your spoon. Add the peanuts and mix again.
Drop tablespoons of the mixture onto large sheets of wax paper spread out on your counter. When the chocolate hardens you can remove and store in plastic containers. Use the wax paper to put on top of each layer when stacking them.