Beat butter, sugar and vanilla until light and fluffy. Add flour, potato chips and nuts; mix well.
Drop by scant teaspoonfuls 2" apart onto ungreased baking sheet. Flatten by pressing with bottom of drinking glass, greased and dipped in sugar (grease and sugar glass as needed).
Bake in moderate oven (350°) 10 to 11 minutes. Remove to racks to cool.