Preheat oven to 180 degrees C. Grease baking trays.
In a large bowl cream together the butter, peanut butter, white sugar and brown sugar. Beat in the eggs one at a time then stir in the milk, cream and vanilla. Combine the flour, bicarb soda, salt and cinnamon, stir into the creamed mixture. Finally, mix in the rolled oats and chocolate chips. Drop by rounded spoonfuls onto the prepared baking trays.
Bake for 8 to 10 minutes in the preheated oven. Allow biscuits to cool on baking tray for 5 minutes before removing to a wire rack to cool completely.