Using a spice grinder or food processor, grind the peanuts to a fine, flour-like consistency.
Set aside.
Husk the corn, remove the silks, and snap each ear in half.
Bring a large pot of water to a boil, add the corn, and cook for 6-8 minutes until tender.
Drain and set aside.
Heat the oil in a large, lidded pan over low-medium heat.
Add the chickpea flour and stir continuously for about 4 minutes, smoothing out any lumps. The flour is ready when it becomes fragrant and turns a light pinkish-brown color.
Add the ground peanuts to the pan, reduce the heat to low, and cook for 5 more minutes, stirring frequently to prevent burning.
Stir in the yogurt, salt, turmeric, ground red chile, and sugar. Increase the heat to medium and slowly pour in the 2½ cups of water, whisking constantly until the sauce is completely smooth.
Gently place the boiled corn into the sauce.
Cover the pan and let it simmer for about 5 minutes, or until the corn is heated through and the sauce has thickened to the consistency of heavy cream.
Transfer the curry to a serving dish, garnish with extra crushed peanuts, and serve hot with fresh chapatis or steamed rice.