Preheat oven to 350℉ In a large bowl combine cake mix and 1 cup of peanut butter until crumbly.
Add eggs, milk, and melted butter to cake mixture; blend at low speed until moistened. Then beat 2 minutes at high speed.
Pour batter into a greased 9x13-inch baking pan. Bake for 35-45 minutes until the toothpick inserted in the center comes out clean. Cool on a wire rack for 15 minutes.
Use the end of a wooden spoon to poke holes to warm the cake.
Microwave jam until thin, about 30 seconds. Carefully pour the jam evenly over the cake into the holes.
Allow the cake to cool completely, about an hour.
Meanwhile, beat ½ cup of peanut butter with an electric mixer on high speed for 2 minutes.
Gently fold in ⅓ of the whipped topping at a time until well blended after each addition.
Spread the peanut butter whipped topping over top of the cooled cake.
Place ¼ cup of jam and ¼ cup of peanut butter into 2 separate bowls and microwave until thin, about 10 seconds.
Drizzle the peanut butter and jam over the whipped topping.
Sprinkle on the chopped peanuts. Serve immediately, or store in the refrigerator until ready to serve.