In a large mixing bowl, whip the heavy cream on medium-high speed until stiff peaks form. Don’t overbeat it—we want creamy, not clumpy.
In a separate bowl, gently whisk together the sweetened condensed milk, peppermint extract, vanilla extract, and food coloring if you're using it.
Fold the whipped cream into the sweetened condensed milk mixture using a spatula. Do this gently to keep the mixture light and airy.
Stir in the chocolate chips or chopped chocolate. Taste a bit—just to make sure it’s minty enough. (You know, for quality control.)
Pour the mixture into a loaf pan or airtight container, then smooth the top with a spatula.
Cover with plastic wrap or a lid and freeze for at least 6 hours, preferably overnight.
Scoop and serve straight from the freezer. Let it sit for 2–3 minutes before scooping if it’s too firm.