Line an 8x8 or 9x9 baking pan with aluminum foil and apply nonstick spray.
In a big bowl, stir together the oats and cereal. Set that aside. Measure out the peanut butter and vanilla extract and set near stove.
Place the coconut oil, honey, and brown sugar in a small saucepan. Cook on medium heat, stirring often, as sugar dissolves, and continue to heat until it just starts boiling. Remove pot from burner. Quickly add the peanut butter and vanilla, and stir until everything is incorporated.
Pour the hot mix into the bowl with the oats and cereal. Stir until everything is coated, then pour into the prepared pan. Use a spatula to press down evenly. Sprinkle mini chocolate chips over the top. To compress the granola even more, line waxed paper over the pan, then use the bottom of a glass or other flat, heavy implement to press down.
Allow pan to set for several hours. Slice into bars. Pack up individually with plastic wrap or keep in a sealed container with plastic wrap or waxed paper between layers. At room temperature, keeps well for up to a week; bars can also be frozen.
OM NOM NOM!