Preheat oven to 350°F (175°C). Line a baking sheet with parchment paper and place an oven rack in the center position.
Put 1 stick (1/2 cup) salted butter (room temperature) into a large mixing bowl and set aside.
Place the other 1 stick (1/2 cup) salted butter in a small saucepan over medium heat. Cook, stirring occasionally, until the butter begins to brown and smells nutty, about 3–4 minutes. Remove from heat.
Pour the browned butter over the stick of room-temperature butter in the mixing bowl. Put the bowl in the freezer for 10–15 minutes, checking at 10 minutes; the butter should be cool and slightly firm but still soft enough to beat. Do not chill longer.
Add 3/4 cup light or dark brown sugar and 2 teaspoons vanilla extract to the butter. Using an electric mixer or a whisk, beat until combined and smooth.
Beat in 2 large eggs, one at a time, mixing until each egg is fully incorporated before adding the next.
Add 2 1/4 cups all-purpose flour, 3/4 teaspoon baking soda, and 1/2 teaspoon kosher salt. Mix on low speed or fold with a spatula until just combined and no large streaks of flour remain.
Fold in 1 1/2 cups chopped chocolate chunks or chips, 1 cup coconut flakes, and 1/2 cup roasted peanuts until evenly distributed.
Drizzle 1/2 cup sweetened condensed milk over the dough and gently mix until lightly combined — you should still see streaks of condensed milk.
Let the dough rest 5 minutes.
Using a 2-tablespoon scoop or spoon, portion the dough into 2-tablespoon balls. Place them 3 inches apart on the prepared baking sheet. Gently flatten each ball into a disk with the palm of your hand.
Bake on the center rack for 7 minutes. Remove the baking sheet and firmly tap it on the counter twice to flatten the cookies. Return the sheet to the oven and bake an additional 3–4 minutes, until the cookie edges begin to set but the centers are still soft.
Remove the baking sheet and tap it on the counter 1–2 more times to flatten if desired. Let the cookies cool on the baking sheet; they will continue to set as they cool.
Serve warm or let cool completely and store in an airtight container for up to 4 days.