Mix wafer crumbs and butter until blended; press onto bottom and up side of 9-inch pie plate. Bake 10 minutes; cool.
Beat chocolate pudding mix and 1 cup milk with whisk 2 min. (Pudding will be thick.) Spread onto bottom of crust. Gradually add remaining milk to cream cheese in large bowl with mixer until blended. Add vanilla pudding mix; beat 2 min. Reserve 1 Tbsp. peanut butter. Add remaining to vanilla pudding mixture; beat until blended. Stir in 1 cup COOL WHIP. Spread over chocolate pudding layer to within 1 inch of edge. Spoon remaining COOL WHIP onto center of pie.
Refrigerate 3 hours. When ready to serve, microwave remaining peanut butter in microwaveable bowl on HIGH 15 sec. or until melted. Melt chocolate as directed on package. Drizzle peanut butter and chocolate over pie.