heat oven to 375°F

beat sweetened condensed milk and peanut butter in large bowl with electric mixer on medium speed until smooth. beat in baking mix and vanilla; stir in peanut butter chips. set aside.

stir together granulated sugar and colored sugars in small bowl. shape dough into 1 inch balls; roll in sugar. place 2 inches apart on ungreased cookie sheet; flatten slightly with bottom of glass.

bake 6-8 minutes or until very lightly browned. (do not over bake) cool slightly. remove to wire rack and cool completely. store in tightly covered container.