Preheat oven to 350 F. Grease 13 x 9-inch baking pan.
Beat butter and sugar in large mixer bowl until creamy. Add flour and stir until crumbly. With floured fingers, press 1 ¾ cups crumb mixture onto bottom of prepared baking pan; reserve remaining crumb mixture. Bake for 10 to 12 minutes or until edges are golden brown.
Combine 1 cup chocolate chips and sweetened condensed milk in small, heavy-duty saucepan. Warm over low heat, stirring until smooth. Remove from heat and add vanilla; quickly spread over hot crust.
Stir nuts into reserved crumb mixture; sprinkle over chocolate filling. Drop teaspoonfuls of raspberry jam over crumb mixture. Sprinkle with remaining morsels.
Bake for 25 to 30 minutes or until center is set. Cool in pan on wire rack. Cut into bars.