Line a silver cookie sheet with white parchment paper.
In a large mixing bowl, mix the rice and chocolate cereals. In a small mixing bowl, combine and mix the powdered sugar and cocoa mix. Set aside both bowls.
In a small microwavable bowl, heat the semisweet chocolate chips uncovered on 45 seconds on high. Stir until the chips are somewhat melted. Continue microwaving for 15 second intervals and mixing until the chocolate chips are completely melted.
Pour the chocolate into the large cereal bowl and stir delicately until well mixed and coated with the cereal.
Add the powdered sugar and hot cocoa mix into the large bowl. Delicately mix until everything is well coated.
Spread mix onto the cookie sheet and let it set and cool completely for about 30 minutes.
In another small microwavable bowl, heat the white baking discs uncovered on 45 seconds on high. Stir until the discs are somewhat melted. Continue microwaving for 15 second intervals and mixing until the discs are completely melted.
Stir the marshmallows into the melted white discs, making sure they are coated completely. Form the marshmallows into little balls and place them sporadically on top of the cereal mix. Let it stand for about 30 minutes.
Sprinkle the M&Ms on top of the cereal after cooling and gently stir. Store at room temperature in a covered container.