With an electric mixer, whip the heavy cream until stiff peaks form.
Add the peppermint extract and food coloring, if using, to the whipped cream. Turn the mixer speed to slow and slowly drizzle the sweetened condensed milk, mixing until well combined.
Using a spatula, gently fold the mini chocolate chips into the ice cream mixture.
Transfer the mixture to a freezer-safe container. Cover and freeze for at least 8 hours or until the ice cream is firm.
Notes
No pink food coloring, feel free to use green (or leave it out completely).