Melt chips add Eagle Brand, stirring occasionally until mixture begins to thicken.

Add chopped nuts and vanilla.

Line bottom of 9" pie pan with foil.

Place 3/4 cup walnut halves in bottom forming a ring.

Spoon chocolate mixture over nuts. Add maraschino cherries and remaining nuts for decoration.

Chill in refrigerator until firm enough to slice. Cut into 1/2 inch slices.