- Pour cereal into a very large bowl or doubled clean brown paper bag, set aside.
- In a large microwave-safe bowl, add sweetened condensed milk, butter, and chips. Microwave in 30 second increments, stirring between, until chips are fully melted. Mix until smooth.
- Mix in the pudding powder until evenly combined, then add vanilla and salt.
- Pour pudding mixture over the cereal and toss until evenly coated, then add powdered sugar and toss again.
- Allow treat to cool then store in an airtight container. Best when eaten in the first day or two!