Position an oven rack in the center of the oven, and preheat to 325 degrees F. Whisk together the butter, brown sugar, honey, vanilla and salt in a large bowl. Add the oats and peanuts, and toss until evenly coated. Coat a rimmed baking sheet with cooking spray, and spread the oat mixture out.
Bake the oat mixture until golden and toasted, 30 to 35 minutes, stirring about halfway through. Let cool completely on the baking sheet. Stir in the cranberries and peanut butter chips. (The granola can be stored in an airtight container at room temperature for up to 5 days.)
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