2 each 16 oz. jars dry roasted peanuts  (4 cups)
1/2 stick unsalted butter
2 cups mini marshmallows
14 oz can sweetened condensed milk
1/2 cup creamy peanut butter

1.  Make dulce de leche as below.
2.  Spray 13 x 9 inch pan.  Line with wax paper and spray paper.  Pour 1 jar of peanuts into pan to cover the bottom evenly.
3.  In medium pan, melt butter and add marshmallows and stir constantly to melt.  Reduce heat to low and whisk in dulce de leche and peanut butter.  When smooth, pour evenly over peanuts and spread over the peanuts.  Top with remaining 16 oz. of peanuts.  Press them down slightly with your hand to make nuts stick to the nougat.
4.  Let set 4 to 5 hours or overnight  until cool and thickened more.  Using the wax paper, flip candy out onto a cutting board, peel off paper and cut into desired size.

    DULCE DE LECHE
There are instructions for making this Caramelized Milk  by boiling the unopened can of sweetened condensed milk  in water, but I was afraid that it would explode! like many have experienced.  Then, there is cooking in a pan on the stovetop.  ( I would have scorched it!)  The oven method sounded too time consuming.  So I opted for the microwave method.
Pour 1 can (14 oz) Sweetened Condensed Milk into large microwave-safe bowl.  (Note: 2 quart size was not quite large enough when it begins to boil.)
Cook on MEDIUM (50%) power for 4 minutes, stirring halfway through heating time.
Reduce power to MEDIUM LOW (30%) power and cook for 8 to 12 minutes, stirring with a wire whisk ever few minutes, until thick and light caramel color.