Grease a 9 x 13 pan. Set aside. Get beaters out and ready.
Place peanut butter chips, marshmallow crème, and vanilla in a large bowl and set aside.
Combine sugar, butter, and evaporated milk in heavy saucepan. Bring to a boil stirring constantly. Reduce heat and cook 4 minutes. stirring constantly.
Remove from heat and carefully pour over marshmallow mixture. Beat with beaters until peanut butter is melted and mixture is creamy and all ingredients well incorporated. Pour in prepared pan and set in fridge to harden up about 3 hours. Cut into squares.