Preheat oven to 375. In a large bowl, with mixer at medium speed, beat all ingredients except walnuts and chips until well mixed, occasionally scraping bowl. Stir in walnuts and chocolate chips.
Drop by teaspoonfuls, 1 inch apart, onto greased cookie sheets. Bake at 375 for 12 minutes or until lightly browned. Immediately remove cookies to wire racks and let cool.
Yield: 3 dozen.