To Roast the Peanuts: Heat the oven to 350℉ and line a baking sheet with tin foil. Bake the (unshelled) peanuts for 18-20 minutes, stirring once, until they are golden brown. Depending on your oven, this may take more or less time. Keep an eye on them so they do not burn. Remove the peanuts from the oven, sprinkle with 1/2 teaspoon of salt and 1/2 tablespoon of butter. Stir and set aside. Once the peanuts are cool, roughly chop them. Turn off the oven. Note: If you're using salted peanuts, either cut down on the added salt or leave it out. Whisk the Dry Ingredients: In a medium bowl, whisk together the flours, baking powder, baking soda, cinnamon, and salt.
Beat the Butter and Sugar: In a stand mixer fitted with the paddle attachment, beat the brown sugar and butter on medium-high until the mixture is pale, feels smooth and creamy, and is light and fluffy. This process should take between 5 and 7 minutes. If you have a hand mixer, this will take closer to 10 to 12 minutes.During the mixing process, stop the mixer at least one time to scrape down on the sides of the bowl. Note: This step is CRITICAL. You're incorporating air into the mixture, allowing the cookies to rise properly. Don't skimp on this. Add the Remaining Wet Ingredients to the Butter Mixture: Reduce the speed, and add the egg, vanilla, molasses, butter extract. Beat until combined.
Add the Dry Ingredients to the Wet Ingredients: Add the flour mixture to the butter mixture, and mix until just combined. This means no visible streaks of flour, but all ingredients are incorporated. Scrape down on the sides of the bowl to make sure there are no pockets. You want to avoid over-mixing to prevent against too much gluten development. At this point, I remove the bowl from the stand mixer and use a wooden spoon or plastic spatula. Add your Mix-ins: Mix in the peanuts, white chocolate, and fold in the caramel popcorn. Take care not to over-mix the dough. Transfer the cookie dough to an airtight container and let chill in the refrigerator for at least an hour but up to 24 hours.
Heat the Oven for Baking: When you are ready to bake the cookies, heat the oven to 350 ℉ and line two rimmed baking sheets with parchment paper. (If you only have one baking sheet, allow the tin to cool completely between batches of cookies).
Portion the Cookies for Baking: Drop large, quarter cup spoonfuls of the batter onto the prepared baking sheet. Allow 1 ½ to 2 inches between each cookie. Bake for 13 to 15 minutes, rotating the baking sheet halfway through. The cookies are finished when they are light golden brown in color around the edges. For smaller cookies, reduce the baking time by a couple of minutes. Let the Cookies Cool: Remove the cookies from the oven. Let them cool on the baking sheet for approximately 10 minutes before transferring to a wire rack to finish cooling. The cookies can be stored in an airtight container at room temperature for up to three days.