Make waffles according to directions on package. Stack them on waxed paper.
When ready to serve, heat the waffle iron and place half the waffle in the iron and the other half ready to fold over. Sprinkle marshmallows, 1/4 graham cracker crumbs and 1/4 cup milk chocolate chips across. Press down the other half of the waffle and close the iron. Cook until chocolate starts to melt and marshmallow is oozing out.