1 1/2 cups white sugar
1 egg
2 tablespoons milk
2 tablespoons butter
2 cups all-purpose flour
1/2 teaspoon baking powder
1 2/3 cups peanut butter
1/2 teaspoon vanilla extract
1/2 cup butter, melted
1 cup milk
2 tablespoons vanilla extract
1 cup chopped walnuts
Preheat oven to 350 degrees F (175 degrees C). Mix together sugar, egg, milk, melted butter, flour, baking powder and peanut butter; pour into 9x13 inch pan.
Bake in preheated oven for 30 to 35 minutes, or until toothpick inserted in center comes out clean. Cool in refrigerator, or wrap in plastic wrap and chill overnight to store.
To make the filling, stir the 2 cups peanut butter, 1/2 teaspoon vanilla extract and 1/2 cup butter into the peanut butter mixture until well blended. Mix together peach preserves, peanut butter mixture and milk. Shape mixture into a shape that stays within 8 inches of bowl and does not cover bowl entirely.
To make the frosting, stir the vanilla and softened butter into the peanut butter mixture until well blended. Mix together brown sugar, walnuts and cocoa. Frost cake. Chill overnight before carving. Magic frosting: Beat 1/4 cup peanut butter mixture into remaining peanut butter mixture until blended; then mix together brown sugar, chocolate chips and 1/4 cup melted butter. Frost frosting.