Coat a 9x13' inch baking dish with cooking spray and line with a piece of parchment with a 2 inch overhang on each side. (This will help you lift the bars out of the pan for easy cutting.)
Place the cereal in a large bowl. Set aside.
In a large saucepan over medium heat, stir the sugar and corn syrup together to combine. Bring the mixture to a boil and cook until the sugar is dissolved, approximately 3-4 minutes. Remove from the heat.
Stir the peanut butter into the sugar mixture until smooth.
Pour the mixture over the cereal and stir until coated.
Press the cereal mixture into the baking dish evenly.
Add the chocolate chips and butterscotch chips to a small saucepan.
Melt the chips over low heat, stirring constantly until smooth.
Spread the chocolate over the bars in an even layer. Immediately sprinkle with sea salt, if using.
Allow to set at room temperature before cutting and serving.
Store scotcheroos in an airtight container at room temperature.
Notes
If you'd like to make Scotcheroos without corn syrup, you can use honey as a substitute at a 1:1 ratio.