Line a 9x13” pan with foil and spray it with cooking spray. Keep the cooking spray close by. Measure out cereal into a large bowl and set aside.
Place butter and marshmallows in a large, microwave safe bowl. Melt for 1 1/2 to 2 minutes on HIGH power, stirring every 30 seconds until they are melted. Stir in the hot chocolate packets. Stir in the cereal and pour into prepared pan.
Working quickly, spray your hands with cooking spray so they won’t stick to the mixture, and carefully press the treats into the pan. (Be careful - the mixture will be hot.) Sprinkle immediately with Mallow Bits and mini chocolate chips and press lightly to secure them to the top of the krispie treats. Let cool completely before cutting into squares.