Rich Chocolate Cake With Creamy Peanut Butter Milk Chocolate Frosting

For Cake: Preheat oven to 350 °F (175°C). Grease and flour two 9-inch-round cake pans. Combine flour, granulated sugar, cocoa, baking powder, baking soda and salt in large mixer bowl. Add milk, water, vegetable oil, eggs and vanilla extract; blend until moistened. Beat for 2 minutes (batter will be thin). Pour into prepared pans. Sprinkle 1/3 cup morsels over each cake. Bake for 25 to 30 minutes or until wooden pick inserted in center comes out clean. Cool in pans on wire racks for 10 minutes; remove to wire racks to cool completely. Frost with Creamy Peanut Butter Milk Chocolate Frosting between layers and on top and side of cake. Garnish with chocolate curls before serving. For Creamy Peanut Butter Milk Chocolate Frosting : Microwave remaining morsels in small, microwave-safe bowl on MEDIUM-HIGH (70%) power for 1 minute; stir. Microwave at additional 10 to 20-second intervals, stirring until smooth. Beat cream cheese, melted morsels, vanilla extract and salt in small mixer bowl until light and fluffy. Gradually beat in powdered sugar. Chocolate Curls: Carefully draw a vegetable peeler across a bar of NESTLÉ TOLL HOUSE Semi-Sweet Chocolate. Vary the width of your curls by using different sides of the chocolate bar.