Beat together powdered sugar, peanut butter, melted chocolate, butter and milk with an electric mixer on low speed until blended. Add additional milk if mixture is too dry to hold together.
Divide mixture in half. Place each half on a 12-inch sheet of Reynolds(R) Parchment Paper. Shape half into a log, about 1-inch round x 8-inches long; roll log in parchment paper, twisting ends to secure. Refrigerate about 1 hour until chilled.
Unwrap log. Slice and shape into 1-inch balls. Roll chocolate balls in candy coatings.
Wrap individual candies in small squares of parchment paper or place in air-tight parchment lined container. Refrigerate until ready to serve.