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Add the milk and white chocolate to a medium saucepan. Stirring occasionally, heat until piping hot (but not boiling) and the chocolate is melted.
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Remove from heat and add the food coloring. Stir well to distribute the color.
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Add both vodkas and stir well to incorporate. Pour into your 2 serving glasses. Generously garnish with whipped cream, sprinkles and a candy cane stick.
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ENJOY!!