In a large bowl, beat the butter and both sugars on medium high until combined, 1-2 minutes.
Add vanilla and egg and beat another minute.
In a separate bowl, combine the flour, salt, cinnamon, chili powder and cocoa powder. Mix well to combine.
Mix together the wet and dry ingredients. Don't over-mix, batter should have a few flour streaks throughout.
Gently fold in the chocolate chips. Cover with plastic wrap and chill for an hour.
Preheat the oven to 350F degrees and line a baking sheet with parchment paper. Cut the marshmallows into thirds.
Roll the dough into 1-1 ½" balls up and around each marshmallow piece and place 2" apart on the baking sheet. (see photos in post above for illustration)
Bake for 12 minutes. Remove from the oven and let cool on the baking sheet for 10 minutes. Then gently remove cookies and place on a wire rack to finish cooling.
Don't overmix the dough or the cookies will be tough. It's ok if there are a couple streaks of flour throughout.
If the dough is too sticky when rolling the balls, chill it for an additional 30-60 minutes to firm it up.
You can substitute mini marshmallows and roll 2-3 up in the dough balls.
You can eliminate the chili powder if you'd prefer not to have any spice.
Mix in toasted almonds or pecans if desired in place of ¼ cup of the chocolate chips.
To freeze the cookie dough before baking, wrap the dough tightly in plastic wrap and place in a freezer safe bag. Store for up to 3 months. To bake, thaw in the fridge overnight, then follow the recipe baking instructions.
To freeze the cookies after baking, place on a baking sheet in one layer and set directly in the freezer until frozen through, about 2-3 hours. Once frozen, pace in an airtight freezer bag and store for up to 3 months. To thaw, place them on the counter overnight to let let them defrost and come to room temperature.