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Grease 9 x 13 baking pan.
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Beat 1 ¼ cups peanut butter and butter in large mixer bowl until creamy.
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Gradually beat in 1 cup powdered sugar.
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With hands or wooden spoon, work in remaining powdered sugar, graham cracker crumbs and ½ cup morsels.
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Press evenly into prepared baking pan. Smooth top with spatula.
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Melt remaining peanut butter and remaining morsels in medium, heavy-duty saucepan over lowest possible heat, stirring constantly until smooth. (OR melt in microwave stirring every 30 seconds until melted.)
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Spread over graham cracker crust in pan.
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Refrigerate for at least 1 hour or until chocolate is firm.
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Cut into bars.
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Store in refrigerator.