Heat malted milk powder and milk in 3 quart saucepan over low heat, stirring constantly until slightly thickened.
Stir in corn syrup and margarine. Heat to boiling, stirring constantly. Remove from heat.
Stir in chocolate chips until melted.
Quickly stir in cereal, 2 1/2 cups at a time until it is all covered.
Drop by rounded tablespoons onto wax paper lined cookie sheet. Refrigerate about 1 hour before eating. Keep any remaining in a cool place. Makes approximately 3 dozen. Enjoy!