Preheat your oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.
In a large bowl, whisk together sugar, flour, cocoa powder, baking powder, baking soda, and salt.
Add eggs, milk, oil, and vanilla. Beat on medium speed for 2 minutes.
Stir in boiling water until the batter is well combined. It will be thin.
Pour the batter evenly into prepared pans and bake for 30-35 minutes or until a toothpick comes out clean.
Let cakes cool in pans for 10 minutes, then transfer to wire racks to cool completely.
For the frosting, beat peanut butter and butter until smooth and creamy.
Add powdered sugar, vanilla extract, and salt. Beat until fluffy.
Place one cake layer on a serving plate. Spread frosting on top and sprinkle with chopped peanut butter cups.
Top with the second cake layer and frost the top and sides of the cake.
To make ganache, heat heavy cream until just simmering. Pour over chocolate chips and stir until smooth.
Drizzle ganache over the cake and garnish with mini and chopped peanut butter cups.
Chill slightly before serving for clean slices.