1. Line a 13 x 9 x 2-inch baking pan with nonstick foil, leaving a few extra inches on each end. Line bottom with about 25 rectangular buttery crackers (such as Keebler Club). In a medium saucepan, melt 1/2 cup unsalted butter over medium-high heat. Add 1/2 cup milk, 1 1/4 cups light brown sugar and 1/4 cup granulated sugar. Bring to a simmer and gradually stir in 2 cups finely crushed honey graham crackers. Simmer, stirring frequently, for 5 minutes. Pour 1 cup of the mixture over crackers and spread evenly. Place another layer of crackers in pan and spread remaining cup of sugar mixture over crackers; top with another layer of crackers.
2. Place 1 1/4 cups milk chocolate chips and 1 cup peanut butter chips in a medium bowl over a small amount of simmering water in a medium saucepan over low heat. Stir until smooth. Spread evenly over top layer of crackers. Refrigerate for at least 1 hour until set. Carefully lift out of pan and place on a cutting board. Cut into 1 x 4-inch bars with a serrated knife.