Crush oreos and mix with melted butter. Press into a 9 by 13pan. Spread softened ice cream on top. Sprinkle with 1 cup peanuts. Freeze.
Combine powdered sugar, milk, chocolate chips, and butter. Boil for 8 minutes. Mixture will thicken. Cool about 1 hour.
Pour the fudge sauce over the ice cream. Sprinkle with remaining ½ cup peanuts. Cover and freeze. Let sit out for a few minutes before cutting and serving.
Notes
Katie's Tips:*Plan ahead on this fabulous group desert because it needs to freeze for at least 4 hours, preferably overnight.*Use a food processor for a quick way to crush oreos.*Try using oreo ice cream instead of vanilla for ultimate oreo flavor.