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1. Line a 15x10x1-inch baking pan with foil, extending the foil over the edges of the pan; set aside.
2. In a large saucepan, combine granulated sugar and corn syrup; heat and stir just until mixture boils around edges. Heat and stir for 1 minute more. Remove from heat. Stir in peanut butter until melted. Stir in rice cereal and cornflakes until coated. Press mixture into the bottom of prepared pan.
3. For pudding layer, in a medium saucepan, melt the 3/4 cup butter. Stir in powdered sugar, dry vanilla pudding mixes, and milk. Spread pudding mixture over cereal layer; set aside.
4. For frosting, in a small saucepan, combine chocolate pieces and the 1/2 cup butter; heat and stir over low heat until melted. Spread frosting over pudding layer. Cover and chill about 1 hour or until set. To serve, remove set mixture from pan by lifting foil. Place on a cutting board; cut into bars. Makes 64 bars.