Begin by adding the salted peanuts, granulated sugar, canola oil and vanilla into a food processor.
Turn the food processor on and let it run for about 4-5 minutes. The peanuts will get chopped up, then go to a thick ball and then start to smooth. Once it is spreadable (it will still be thick), stop the food processor and transfer the peanut butter to a stand mixer.
To the stand mixer, add the powdered sugar and combine with the homemade peanut butter on low/medium speed until a thick dough forms.
Place some plastic wrap onto the counter and then roll out the dough until approx 3/4 inch thick.
Use a small egg shaped cookie cutter to cut the dough. Place the cut out dough on a parchment or silicone lined cookie sheet and freeze for 30 minutes.
When the 30 minutes is almost up, heat the milk chocolate melting wafers in the microwave according to the directions on the package so they are completely melted.
Remove the egg-shaped peanut butter from the freezer and dip each egg into the melted chocolate, coating completely before setting on a silicone mat or parchment paper to set completely. You may need to refreeze undipped peanut butter eggs while coating other eggs so they are cold and easier to dip.
Allow chocolate covered eggs to set up on the pan.
Store at room temperature for up to 4 days. Enjoy!