In a large bowl mix oats, cereal and dried cranberries.
In a medium saucepan over medium heat, melt butter, honey and brown sugar. Stir to combine. When mixture begins to bubble, add vanilla. Reduce heat to low, allowing to cook for another 1-2 minutes.
Pour hot liquid mixture over dry ingredients. Stir well with a rubber spatula until ingredients are coated well. Transfer to greased pan. Spread out evenly and press down firmly. Sprinkle with mini chocolate chips, press down into mixture. Allow to sit for several hours before cutting into. If mixture has not set, chill for 15-20 minutes before cutting into.