In a large glass bowl, melt peanut butter chips in the microwave for 1 minute. Then, stir to see if it is melted. If it needs melted more, put back in microwave for 15 seconds at a time until fully melted.
Add cream cheese, peanut butter, and vanilla to melted peanut butter chips. Stir until well combined. Stir in powdered sugar until smooth throughout.
Separate the batter into 2 parts in the bowl (or how ever many eggs you are going to be making. The more eggs you make, the smaller they will be). On a baking tray with wax paper, shape each dough section into an egg shape. Try to make the edges even and smooth. Then, freeze egg shapes for about 30 minutes.
In the last 5 minutes of the 30 minutes, in a glass bowl (can be same one as before), melt the white chips and sweetened condensed milk in the microwave together for 1 minute. Then, stir to see if it is melted enough. If it needs melted more, put back in microwave for 15 seconds at a time until fully melted.
After the 30 minutes, remove peanut butter eggs from freezer. Using your fingers, mold the white chip mixture onto the eggs, in a thin layer (save some for coloring later). Once each egg has a layer of white, you can divide out the remaining white chip mixture into colors (so if you are using 5 colors, divide mixture into 5 bowls).
Using food coloring, color each bowl white chip mixture to the desired color. Then, using your fingers, mold each color onto the eggs. Freeze eggs for an additional hour to set. Cut into pieces and serve your Peanut Butter Easter Egg slices refrigerated or room temp!