In a rather large bowl, gently toss Chex cereals with your hands to intermingle.
In a heatproof bowl, melt chocolate chips, cashew butter, and coconut oil in 20-second increments, stirring after each zap. Microwave until mixture is mostly melted. Remove bowl from microwave and continue stirring to fully melt. Stir in vanilla.
Pour chocolate mixture over Chex. Using two silicone spatulas, gently toss a few times. Sprinkle with a pinch of salt. Continue tossing. Sprinkle with another pinch of salt. Continue tossing until cereal is evenly coated with chocolate mixture. Let cool for about 10 minutes.
Transfer Chex mixture into another (clean!) large bowl. (This will keep the confectioners’ sugar from absorbing into the melted chocolate stuck to the sides of the original bowl in the next step.)
Sift ¼ cup (28g) of confectioners’ sugar over the Chex mixture, then gently toss with silicone spatulas. Repeat until all sugar has been added.
Line a wide, shallow container or rimmed baking sheet with wax paper. Pour mixture evenly into container. Chill in fridge for 2 hours or at room temperature overnight.
Once the chocolatey coating has hardened, break up any large clumps, if you want. Add almond M&M’s and pretzel sticks, tossing to combine.