Place 6 cups Chex Mix in a large bowl. Set aside.
Heat white candy coating in a small pot on LOW, stirring constantly. Mix until all melted and well blended.
Take off heat and pour over cereal. Toss so that most or all pieces are well coated.
Place 1 cup powdered sugar and cinnamon in a large ziploc bag and mix well.
Pour cereal into the bag and shake until all the pieces are coated with powdered sugar and cinnamon.
Place in air-tight container until ready to serve