1. Line 15-1/2x10-1/2x1-inch jelly-roll pan with foil; extending foil over edges of pan. Lightly butter or spray foil with vegetable oil spray.
2. Place peanut butter chips, oil and 1 teaspoon vanilla in large bowl. Place chocolate chips and remaining 1 teaspoon vanilla in second large bowl. Stir together corn syrup and brown sugar in large saucepan; cook over medium heat, stirring constantly, until mixture comes to full, rolling boil. Remove from heat.
3. Immediately stir half of hot mixture into each bowl; stir each mixture until chips are melted and mixture is smooth. Immediately stir 6 cups rice cereal into each mixture. Spread peanut butter mixture into prepared pan; spread chocolate mixture over top of peanut butter layer with buttered back of spoon. Cool completely.
4. Use foil to lift treats out of pan; peel off foil. Cut treat into bars. Store in tightly covered container in cool dry place. About 4 dozen pieces.
MICROWAVE INSTRUCTIONS: Place peanut butter chips, oil and 1 teaspoon vanilla in large bowl. Place chocolate chips and remaining 1 teaspoon vanilla in second bowl. Stir together corn syrup and brown sugar in 4-quart microwave-safe bowl. Microwave at MEDIUM (50%) 5 to 6 minutes, stirring each minute, until mixture boils. Immediately stir half of mixture into each reserved bowl; proceed as directed above.