Betty Crocker's Peanut Butter Waffle Toast

1 1/4 cups milk
1 cup Original Bisquick® mix
1/2 cup peanut butter
2 tablespoons granulated sugar
1 teaspoon vanilla
1 egg
6 to 8 slices bread
6 to 8 tablespoons miniature semisweet chocolate chips
Powdered sugar, if desired

1. Heat waffle iron; grease with shortening if necessary (or spray with cooking spray before heating).
2. In medium bowl, stir milk, Bisquick mix, peanut butter, granulated sugar, vanilla and egg until well blended. Carefully dip bread into batter on both sides. Place in waffle iron; close lid.
3. Bake about 2 minutes or until steaming stops and "toast" is golden. Carefully remove waffle toast. Sprinkle each waffle with 1 tablespoon chocolate chips and powdered sugar.
High Altitude (3500-6500 ft): Bake about 3 minutes.