Step 2 — Make the Caramel Base:
In a saucepan, warm the sweetened condensed milk, butter, and brown sugar over medium heat for about 7–8 minutes. Stir often until the mixture begins to slightly thicken.
Step 3 — Add Flavor and Peanuts:
Reduce heat. Mix in the milk, vanilla, and chopped peanuts. Cook for another 2 minutes until thicker, then remove from heat.
Step 4 — Build the Bites:
Using a small spoon or scoop, place the warm caramel-peanut mixture onto each cracker and gently spread it to cover the top.
Step 5 — Cool and Store:
Allow the treats to fully cool on the sheet until the caramel firms up. Store them in an airtight container to keep them fresh.