In a large microwave safe bowl, combine the peanut butter, chocolate chips, honey, and coconut oil. Melt by microwaving at 50% power for 20 second intervals, stirring each time until melted and combined.
Stir in the vanilla extract.
Add in the Chex cereal and gently stir until it is well coated with the chocolate peanut butter coating.
Add the mixture to a large ziplock bag, and pour in your 2 scoops of protein powder. Seal the bag and shake well until the cereal is evenly coated with protein.
Store in an air tight container and enjoy!