Measure the cereal into a large mixing bowl and set aside. Line two large baking sheets with parchment paper.

In a medium microwave-safe bowl, combine the chocolate chips, coconut oil, and peanut butter. Microwave in 30-second intervals, stirring after each, until completely smooth and glossy, about 90 seconds total. Stir in the vanilla extract.

Pour the melted chocolate mixture over the cereal and gently fold with a spatula until every piece is evenly coated. Work quickly before the chocolate begins to set.

Spread the chocolate-covered cereal onto the prepared baking sheets in a single layer. Let cool for 5 minutes until the chocolate is no longer warm to the touch but not fully hardened.

Transfer the cereal to a large resealable plastic bag or container with a lid. Add the powdered sugar, seal tightly, and shake vigorously for 30-60 seconds until each piece is coated in a white dusting.

Pour the coated mixture back into the large bowl. Add the shredded coconut, toasted almonds, and sea salt, tossing gently to distribute evenly throughout.

Spread the finished puppy chow on the parchment-lined sheets again and let it air-dry for 15 minutes to set completely before serving or storing.