Place waxed paper or foil on cookie sheets
Place the sugars, butter, and milk in a heavy saucepan
Place over medium heat and bring to a rolling boil (bubbles stay even when stirred)
Boil for one minute, stirring constantly
Remove from heat and add vanilla and peanut butter. Stir until the peanut butter has melted
Stir in the oats
Quickly drop cookies by the tablespoon onto the prepared cookie sheets.