Preheat oven to 350 degrees.
In a large bowl, combine the flour, the baking soda, the baking powder, and the salt. Set aside.
In a large bowl, beat the butter and the peanut butter together until fluffy. Add the sugars and beat until smooth. Add the egg and mix well. Add the milk and the vanilla extract. Add the flour mixture and beat thoroughly. Stir in the peanut butter chips. Place sprinkling sugar on a plate. Drop by rounded teaspoonfuls into the sugar, then onto ungreased cookie sheets, leaving several inches between for expansion. Using a fork, lightly indent with a crissscross pattern (I used the back of a palette knife to keep it smooth on top), but do not overly flatten cookies. Bake for 10 to 12 minutes. Do not overbake. Cookies may appear to be underdone, but they are not.
Cool the cookies on the sheets for 1 minute, then remove to a rack to cool completely.