Preheat oven to 350 degrees and line a 9 x 13" pan with aluminum foil sprayed with non-stick cooking spray.
Combine butter and graham cracker crumbs in a bowl and press into bottom of foil-lined pan.
Layer cranberries, peanuts, Reese's minis, pretzels, and rice cereal over the graham crust.
Evenly drizzle entire can of sweetened condensed milk over the pan.
Bake for 20-25 minutes or until bars are bubbly and lightly browned.
Allow bars to cool completely before lifting out of the pan, removing foil and cutting into squares. Makes about 36 squares.