My neighbor makes batch after batch of Chex Party Mix every year, adding stuff as she pleases, including M & M's. She adds the regular M & M's but I'm sure you can add peanut M & M's if you choose. Just mix them in after the party mix has cooled.

You can always make Trail Mix too. Again, just add the peanut M & M's instead of or in addition to regular M & M's. My usual Trail Mix involves mixing cereal, M & M's, and peanuts, in approximately equal proportions. OK, the truth is I just dump everything in a bowl, mix it up, and eat it.

Hope this helps.