Place the bugles into a large sealable bag so it is ready for the chocolate and peanut butter, set aside.
Place chocolate and peanut butter into a large microwave safe bowl. Microwave for 45 seconds and stir. Microwave for 20 second intervals until the chocolate is smooth. Allow a minute to slightly cool.
Pour the chocolate/peanut butter over the bugles, seal the bag, and gently shake to coat. Be very careful not to stir too vigorously because it will break the bugles. A few clumps of bugles are fine.
Before adding the powdered sugar make sure that the chocolate is not too hot. If it is still pretty warm allow it a minute or two with the bag open to cool. This will help the sugar not immediately be absorbed and will give a better powdered sugar coating.
Add the powdered sugar. Seal the bag and gently shake to coat. Add chocolate candies.