In a small bowl, crumble together the peanut butter and powdered sugar.
Sprinkle 3/4 of the peanut butter mixture on the bottom of the baked pie shell. Save the rest to garnish the top of the pie.
In a small bowl, mix one small package of vanilla instant pudding with the two cups of milk. Whisk until smooth.
Pour the pudding over the crumbled peanut butter mixture in the pie shell. Allow the pudding to set for 5 minutes.
Spread the whipped topping over the pudding and then sprinkle the remaining peanut butter crumbs on top.
Cover loosely and store the pie in the refrigerator.
Use a store-bought pie crust, or your own favorite pie crust recipe. You could also use a graham cracker crust!Note: We do not recommend freezing this pie, but you can make it up to 2 days in advance and store it in the refrigerator.The calories shown are based on the pie being cut into 8 pieces, with 1 serving being 1 slice of pie. Since different brands of ingredients have different nutritional information, the calories shown are just an estimate. **We are not dietitians and recommend you seek a nutritionist for exact nutritional information.**