In a large mixing bowl, add marshmallows, milk chocolate morsels, and baking chocolate. Set aside.

In a large pot, bring to a boil the sugar, cream, and butter (over medium-high heat). Once boiling, continue to boil for 4 minutes, stirring constantly. Remove from heat. Pour hot mixture over marshmallows and chocolate. Using an electric mixer, beat until chocolate has melted and mixture is smooth (about 2 minutes).

Melt butterscotch and peanut butter morsels together in microwave bowl for one minute. Stir and heat at 30 second intervals until fully melted.

In a large bowl, combine rice cereal, melted butterscotch, and about one-third of the chocolate mixture. Mix completely.

In a parchment paper lined 13x9-inch baking dish, pour one-third of the chocolate mixture onto the bottom, spreading with a knife until bottom of dish is covered. Top with cereal mixture. Press firmly. Pour remaining one-third of the chocolate mixture over cereal, spreading with a knife.

Allow to set up in refrigerator, about 1-2 hours. Remove and cut into bite-sized pieces. ENJOY!