Combine sugar, butter, salt, marshmallows and evaporated milk to a boil, and boil for 5 minutes. Stir constantly as this mixture can scorch easily. Remove from heat, stir in cherry chip until melted and pour into a buttered 9 x 13 pan. Chill until set. Melt chocolate chips and peanut butter, either in microwave or on the stovetop, stir in peanuts. Pour over cherry mixture and chill again until set.