Beat together one cup peanut butter, cream cheese and sugar in large bowl with an electric mixer on medium until well combined. Gently mix in 3 cups whipped topping until thoroughly combined. Spoon mixture into pie crust. Using a spatula, smooth mixture to edges of pie.

Reserve 2 tablespoons of hot fudge topping aside. Microwave remaining topping on high for 1 minute. Stir. Spread topping over pie, covering entire peanut butter layer. Refigerate until set. Spread remaining whipped topping (1.5 cups) over hot fudge layer, being careful not to mix layers.

Drizzle remaining 2 tbsp of fudge and peanut butter over pie (two toppings drizzled at right angles looks good). Refrigerate until ready to serve.