Cook asparagus in large saucepan of boiling salted water until crisp-tender, about 2 minutes.
Drain.
Transfer asparagus to bowl of ice water.
Drain well. DO AHEAD: Can be made 1 day ahead. Wrap asparagus in paper towels; place in resealable plastic bag and chill.
Preheat oven to 425°F.
Heat 2tablespoons peanut oil in heavy large ovenproof skillet or wide pot with lid over medium-high heat.
Add morels and saut° until tender and browned, about 8 minutes. Season to taste with salt and pepper.
Transfer morels to bowl (do notclean skillet).
Heat 1 tablespoon peanut oil in same skillet over high heat.
Sprinkle veal chops with flour, salt, and pepper.
Add veal chops to skillet; cook until browned, about 2 minutes per side.
Transfer to plate.
Add remaining 1 tablespoon peanut oil to same skillet; add shallot halves, 6 whole sage leaves, thyme sprigs, and bay leaves to skillet and saut until shallots are softened, about 6 minutes. Return veal chops to skillet; cover and roast in oven until tender, about 12 minutes.
Transfer chops and shallot mixture to plate.
Add remaining peanut oil to skillet; add 1/3 cup minced shallots, sliced sage leaves, and garlic and sauté 3 minutes.
Add asparagus, morels, and broth; simmer until asparagus is tender, about 5 minutes. Return veal chops to skillet, cover, and cook just until heated through and liquid is slightly reduced, about 3 minutes.
Transfer veal chops, morel-asparagus mixture, and pan juices to plates.
Sprinkle with chopped chives and serve.
A lighter-style Pinot Noirwould be great with the veal chops. We like the earthy, dark berry flavors of the Domaine Jean Grivot 2004 "Les Charmois" Nuits-St.-Georges ($47).