Make Butterscotch Sauce: In a medium saucepan combine brown sugar, corn syrup, 1/4 cup LACTAID Reduced Fat Milk, and butter.
Bring just to boiling; reduce heat.
Simmer, uncovered, stirring occasionally, for 20 minutes.
Make Waffles: In a large mixing bowl stir together the flour, granulated sugar, baking powder, and salt.
In a medium bowl combine the egg yolks, LACTAID Reduced Fat Milk, and oil; stir into flour mixture all at once, stirring just until combined but still slightly lumpy.
Stir peanuts into batter.
Set aside.
In a small bowl beat egg whites until stiff peaks form (tips stand straight).
Gently fold egg whites into batter, leaving a few fluffs of egg white.
Do not overmix.
Pour 1 to 1 1/4 cups of batter onto grids of a preheated, lightly greased waffle baker.
Close lid quickly; do not open during baking.
Bake according to manufacturer's directions.
When done, use a fork to lift waffle off grid.
Repeat with remaining batter.
Serve hot with warm Butterscotch Sauce and, if desired, fresh berries.