1In large bowl, mix cereals.
2In 1-quart microwavable bowl, microwave baking chips and oil uncovered on Medium-High (70%) 1 minute; stir. Microwave 15 to 30 seconds longer or until mixture can be stirred smooth. Pour over cereal mixture; toss to coat.
3In large resealable food-storage plastic bag, mix powdered sugar and gelatin. Add cereal mixture to bag; seal. Shake until cereal is well coated. Add strawberries. Spread mixture on waxed paper. Store in airtight container.