Measure cereal and place in a large bowl; set aside.
Pour powered sugar, collagen and protein powder into a gallon sized resealable zip-lock bag; seal and shake to combine.
In a saucepan over medium heat add peanut butter, butterscotch chips and coconut oil. Stir until melted and the mixture is smooth.
Pour peanut butter mixture over cereal and toss until evenly coated.
Carefully pour coated cereal mixture into the bag, seal and shake until well coated. Spread on parchment paper.
In a small bowl, combine mini dark chocolate chips and remaining coconut oil and microwave for 1-2 minutes, or until melted.
Drizzle melted chocolate over Chex mix and let sit until chocolate sets up.