Heat the oven to 375 degrees F. In a small bowl, mix the chopped peanuts, granulated sugar, and cinnamon; set aside.
In another small bowl, stir the peanut butter and powdered sugar until completely blended. Evenly divide the mixture into 24 portions and shape into 1-inch balls.
Cut roll of cookie dough into 12 slices. Cut each slice in half crosswise to make 24 pieces; flatten slightly. Shape 1 cookie dough piece around 1 peanut butter ball, covering completely. Repeat with remaining cookie dough and peanut balls.
Roll each covered ball in the peanut mixture and gently pat the mixture completely onto the balls. On ungreased large cookie sheets, place the balls 2-inches apart. Spray the bottom of a drinking glass with nonstick cooking spray and press into the remaining peanut mixture. Flatten each ball to 1/2-inch thickness with the bottom of the glass. Sprinkle any remaining peanut mixture evenly on tops of cookies and gently press into the dough.
Bake 7 to 12 minutes or until the edges are golden brown. Cool 1 minute, then remove from the cookie sheets to a cooling rack to cool completely. Store tightly covered.