In the bowl of a stand mixer with paddle attachment or in a large bowl with a hand mixer, cream together butter and both sugars until light and fluffy, about 2-3 minutes.
Mix in eggs one at a time. Mix in vanilla extract.
In a separate large bowl, whisk together flour, crushed graham crackers, crushed cereal, nonfat milk powder, cornstarch, baking powder, baking soda, and salt.
Mix the dry ingredients into the wet ingredients until just combined, taking care not to over-mix. Fold in white chocolate chips.
Scoop about ⅓ cup of dough at a time, roll into tall balls, and place on parchment paper-lined baking sheet. Gently press tops down slightly. Place baking sheet in fridge to chill for about 30 minutes. While dough is chilling, preheat oven to 350 degrees.
Bake cookies for 12-16 minutes, until edges are just set. Centers should look slightly underdone.
Let cookies cool in pan for a few minutes before moving to metal racks to cool completely.
Once cooled, frost cookies with marshmallow frosting. I like to use a pastry bag with a Wilton 2A pastry tip. Gently press Lucky Charms marshmallows into the frosting and sprinkle edible gold glitter, if desired.