Combine the chocolate chips, peanut butter, butter and malted milk in a medium microwave-safe bowl. Microwave for 30-second increments, stirring, until smooth. Put the cereal in a large bowl, add the melted chocolate mixture and stir until evenly coated. Allow the cereal to cool slightly, and then transfer to a large brown paper bag or re-sealable plastic bag. Add the confectioners' sugar, bananas and butterscotch chips. Tightly close or seal the bag and toss to coat well. Store in an airtight container for up to 3 days.
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