Preheat the oven to 350°F (177°C). Line two baking sheets with parchment paper or silicone mats and set aside.
In a medium bowl whisk together the flour, baking powder, baking soda, salt, and ground cinnamon until evenly combined. Set this dry mix aside.
In the bowl of a stand mixer fitted with the paddle (or using a large bowl and electric hand mixer), beat the softened butter with both sugars on medium-high speed until pale and fluffy, about 2 to 3 minutes.
Add the eggs one at a time, mixing briefly after each addition. Scrape down the bowl, then beat in the peanut butter and vanilla until the mixture is smooth and homogenous.
With the mixer on low speed, add the dry flour mixture in two additions, pausing to scrape the bowl so you don't overmix. Once the flour is incorporated, fold in the rolled oats by hand or on low speed until distributed.
Stir in the chocolate chips with a spatula until evenly distributed. The dough will be thick and slightly sticky.
Transfer the dough to a covered container or wrap the bowl with plastic and chill in the refrigerator for 30 to 45 minutes. Chilling firms the dough for neater shaping and helps keep cookies thick and chewy.
When ready to bake, use a medium cookie scoop or measure about 2 1/2 tablespoons of dough per cookie and place scoops 2 1/2 inches apart on the prepared sheets. Slightly flatten each scoop with your palm or the back of a measuring spoon so they spread evenly.
Bake one sheet at a time in the center of the oven for 10 to 12 minutes, until the edges are set and lightly golden but the centers still look soft. Rotate the pan halfway through for even browning.
Remove the cookies from the oven and let them cool on the baking sheet for 5 to 7 minutes, then transfer to a wire rack to finish cooling. If you like, press a few extra chocolate chips onto the warm tops for a prettier presentation.
Store cooled cookies in an airtight container at room temperature for up to 1 week, or freeze for longer storage.