In a large saucepan, heat sugar, peanut butter, and light corn syrup over medium heat until smooth.
Turn off heat and add in butterscotch chips. Stir continuously to melt the butterscotch into the warm mixture.
Add Corn Flakes, and mix to coat the cereal evenly.
Line cookie sheet with aluminum foil and spread mixture evenly on pan.
Heat oven to 400 degrees (F).
Sprinkle chocolate chips evenly on top of mixture and bake until chocolate chips begin to melt. This takes 15 minutes in my oven. Stay close and watch carefully so that the chocolate does not scorch.
When chocolate chips begin to melt and sides begin to bubble, remove from oven and spread chocolate evenly across candy.
Let set (about an hour) and then slice into pieces. Enjoy!