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For cake, mix 2 cups sugar, 1 tsp baking soda, 2 cups flour, and 1/2 tsp salt; set aside.
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Mix 1 cup skim milk, 1 T vanilla, and 2 eggs; set aside.
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Bring to a boil in a medium saucepan 1 cup butter, 3/4 cup peanut butter, and 1 cup skim milk. After it comes to a boil remove it from the heat and add the sugar, soda, flour, and salt mixture, mixing well.
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Add the milk, vanilla, and egg mixture and mix well.
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Pour into a greased jellyroll pan or 2 9x13 pans and bake 20-25 minutes at 350 degrees.
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Cool while preparing frosting.
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For frosting, bring to a boil 1/2 cup butter, 1/2 cup peanut butter, and 6 T milk.
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Remove from heat and stir in 1 lb powdered sugar; frost cake immediately and quickly.