Heat oven to 375º. In a small bowl mix peanuts, granulated sugar, and cinnamon and set aside.
In another small bowl, stir peanut butter and powdered sugar until completely blended. Shape into 24 1" balls.
Cut roll of cookie dough into 12 slices. Cut each slice in half to make 24 pieces. Flatten slightly. Shape 1 piece around 1 ball, covering completely. Repeat with remaining dough and balls.
Roll each ball in peanut mixture, and gently pat onto balls. Place balls 2" apart on ungreased cookie sheets.
Spray bottom of drinking glass with nonstick spray and press into remaining peanut mixture. Flatten each ball with glass into 1/4" thickness. If any mixture remains press gently into cookies.
Bake 7-12 minutes or until edges are golden brown. Cool 1 minute on rack and then completely on cooling racks.
Store tightly covered.