Using a food processor, crush the Fritos until fine to yield 1 ½ cups and set aside.
Crush the Lays potato chips until fine (1 ½ cups crushed) and set aside.
In a food processor or stand mixer, cream together peanut butter and butter until smooth.
Add the confectioners’ sugar and mix until combine.
Pour the crushed Fritos and Lays potato chips into the mixture and mix until combined.
Chill mixture for 30-60 minutes until firm enough to roll into balls.
Roll mixture into 1-inch balls and refrigerate balls until firm.
Heat melting chocolate according to package directions.
Using a fork, dip balls in the chocolate shaking excess of and place on wax or parchment paper to set.
Top with additional crushed chips for presentation if desired.
You can also stick a toothpick in the top of the balls before freezing. This makes dipping easier.