Put cereal in a large bowl or a folded paper bag, and let it sit.
In a large microwave-safe bowl, combine sweetened condensed milk, butter, and chocolate chips. Warm the chips in the microwave for 30 seconds each time, stirring in between, until they are fully melted. Mix until there are no clumps.
Mix the pudding powder well, then add vanilla and salt.
Put the pudding on top of the cereal and stir until everything is coated. Next, sprinkle powdered sugar and mix once more.
Allow the snack to cool before placing it in a closed container. It’s better to eat it within the first day or two!