Preheat your oven to 350°F (175°C). Line your baking sheets with parchment paper for easy removal.
In a large mixing bowl, use an electric mixer to cream together 1 cup of softened butter, 3/4 cup light brown sugar, 1/4 cup dark brown sugar, and 1/2 cup sugar until the mixture is light and fluffy.
Add the 2 eggs and 1 tablespoon of vanilla extract to the creamed mixture. Beat until well combined.
In a separate bowl, whisk together 2 3/4 cups flour, 1/2 teaspoon baking soda, 1/2 teaspoon baking powder, and 1/2 teaspoon salt.
Gradually add the dry ingredients to the wet mixture, mixing until just combined. Be careful not to overmix!
Gently fold in the 12 ounces of mini semi-sweet chocolate chips and the frozen, chopped Milky Way bars.
Using a cookie scoop, drop heaping tablespoons of dough onto the prepared baking sheets, leaving space between each cookie.
Bake in the preheated oven for 10-12 minutes, or until the edges are golden brown. The centers might look slightly underbaked, but they will continue to cook on the baking sheet.
Allow the cookies to cool on the baking sheets for a few minutes before transferring them to wire racks to cool completely. Enjoy your warm, gooey Milky Way Chocolate Chip Cookies with a glass of milk for an indulgent treat!