Remove biscuits from wrapping and place onto a lightly floured wooden cutting board.
Flatten each biscuit to about 1/4 inch thickness.
In a small mixing bowl combine peanut butter, cream cheese, vanilla extract, heavy cream, and powdered sugar. Whisk well until smooth.
Add a spoonful of The peanut butter mixture, and a spoonful of grape jelly into the center of each biscuit round.
Gather the edges of the biscuit over the center of the filling and pinch together the seams to seal.
Place into the air fryer seam side down and cook for six minutes, at 320 degrees F, air fryer setting.
Melt the butter. In a separate bowl, combine brown sugar, granulated sugar, and cinnamon.
Brush each biscuit with butter, then sprinkle with sugar.
Serve warm, sprinkle chopped peanuts over the top if desired and enjoy!