Using an electric mixer, combine the first 5 ingredients in a large bowl. Take a tablespoon worth of the peanut butter mixture and flatten it out by pressing it in between your hands making a 2″ around ‘pancake’ shape. Using your thumb, create a slight indentation of the center of your ‘pancake’. Drop 1/2 teaspoon of jelly into the indentation, and fold up the sides. Create another small circle with the peanut butter mixture and press it down on the top of the ball, and roll it around in your hands to tighten & seal. Repeat with the remaining dough & jelly. Place the formed balls on a baking sheet lined with wax paper & place it into the freezer for 30 minutes, or until set. Remove, & place the balls in a large container or resealable plastic bag & store in the refrigerator.