Using an electric mixer, whip together whipping cream, ¾ cup powdered sugar and vanilla until stiff peaks form. Set aside.
Cream together cream cheese, 1 cup powdered sugar, and peanut butter.
Fold in half of the whipped cream.
Pour into pie crust.
Top with remaining whipped cream, chopped Reese’s, and peanut butter and hot fudge sauce if desired.
Chill until firm, about 4 hours. Store in the refrigerator. Enjoy!