In a medium sized mixing bowl beat the sugar and the butter until creamy. Add the eggs, one at a time and beat using a mixer.

Mix in peanut butter and vanilla extract.

Add the baking powder and salt, and then add the the flour but in 3 additions and mix until just combined, but do not over mix.

Add the milk and whisk until just combined. Fold in the chopped chocolate chunks, and the peanuts.

Grease two 9 inch round spring form pans, divide the batter and spoon each half into one.

Bake for about 30 minutes, or until a toothpick comes out dry.

To make frosting: Combine all ingredients together and beat using a mixer. Add more powdered sugar if the frosting is too runny.

When cake is baked, let it chill and then remove from pan. Cut each piece into 2 halves horizontally. Make sure that it's cooled before you start frosting.

Frost each layer while assembling the cake. And finally decorate with crushed peanut butter cups.