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1
Preheat oven to 325u00b0F. Trim crusts from bread. Set aside half of crusts; discard remaining crusts or reserve for another use. Using a rolling pin, flatten each bread slice. Layer flattened bread slices inside a 9-inch pie pan to cover bottom and sides.
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2
Stir together granulated sugar and cinnamon in a small bowl. Stir together 2 tablespoons of the melted butter and half of the cinnamon-sugar in a small bowl; brush mixture over bread slices. Bake in preheated oven until lightly golden and dry, 12 to 15 minutes. Cool completely, about 20 minutes.
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3
Beat peanut butter, cream cheese, and powdered sugar in a medium bowl with an electric mixer until smooth. Stir in whipped cream. Spread half of peanut butter mixture in cooled crust. Chill 20 minutes.
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4
Meanwhile, place jelly in a small saucepan. Cook over medium, whisking constantly, until smooth. Stir together cornstarch and water in a small bowl; add to jelly, and stir to combine. Bring mixture to a boil. Reduce heat to medium-low, and simmer 2 minutes. Remove from heat, and cool to room temperature, about 15 minutes.
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5
Pulse reserved crusts in a food processor until coarsely chopped. Stir together chopped crusts, peanuts, salt, and remaining 2 tablespoons melted butter and cinnamon-sugar mixture in a medium bowl. Spread mixture evenly on a rimmed baking sheet. Bake at 325u00b0F until golden brown, about 10 minutes.
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6
Pour cooled jelly mixture over pie, and top evenly with remaining peanut butter mixture. Sprinkle evenly with crust mixture. Refrigerate until set, about 4 hours.
