Preheat oven to 350 degrees F. In a large bowl, toss together flour and nuts and set aside. In a medium saucepan combine chocolate chips and butter, stirring over very low heat until chips are melted and smooth. (Mixture will be stiff.)
Add sweetened condensed milk and vanilla to chocolate mixture; mix well. Add chocolate mixture to flour and nuts; mix well.
Shape 1 tablespoon of dough around each candy kiss, covering it completely. Shape into a ball and place 1 inch apart on an ungreased cookie sheet. Bake for 6 to 8 minutes. Do not overbake. Cookies will be soft and appear shiny but will become firm as they cool. Remove from cookie sheets. Cool 15 minutes or until completely cooled.
Melt chocolate chips in a small saucepan with vegetable oil and stir until smooth. Dip just the top of the treat into the melted chocolate and set on rack to cool and firm chocolate.