Step 1: Preheat your waffle iron to the desired setting (medium-high is usually best for a crisp exterior).
Step 2: In a large mixing bowl, whisk together the flour, sugar, baking powder, and salt until well combined.
Step 3: In a separate medium bowl, whisk the eggs, then add the buttermilk, melted butter, and vanilla extract. Mix until smooth.
Step 4: Pour the wet ingredients into the dry ingredients and stir with a spatula until just combined. Be careful not to overmix; some small lumps are okay.
Step 5: Gently fold 1.5 cups of the cereal into the batter using a spatula.
Step 6: Lightly grease the waffle iron. Pour about 1/2 to 3/4 cup of batter (depending on your iron size) onto the center. Sprinkle a tablespoon of the remaining cereal on top of the wet batter.
Step 7: Close the lid and cook for 3-5 minutes, or until the waffle is golden brown and the cereal on the surface is toasted.
Step 8: Remove carefully and serve immediately with your favorite toppings.