Preheat oven to 400°F (200°C). Prepare a muffin tin by lining with paper liners or greasing each cup.
In a large bowl, cream together 1/2 c. sugar and 2 Tbsp butter (room temperature) until light and fluffy.
Add 2 eggs to the butter-sugar mixture one at a time, beating until each is just incorporated.
Stir in 1/2 c. peanut butter and 1 c. milk until the mixture is smooth and combined.
In a separate bowl, sift together 2 c. all-purpose flour, 1 Tbsp baking powder, and 1/2 tsp salt.
Add the dry ingredients to the wet mixture and stir gently until just combined; do not overmix.
Fold in 1/2 c. peanut butter chips until evenly distributed.
Divide the batter evenly among the prepared muffin cups, filling each about 2/3 full.
Bake at 400°F for 15–17 minutes, or until a toothpick inserted in the center comes out clean or with a few moist crumbs.
Let the muffins cool in the pan for about 5 minutes, then transfer to a wire rack to cool completely.