Place a 9" x 5" metal loaf pan or other similarly sized freezer-safe container in the freezer.

In a large mixing bowl, whip the heavy whipping cream on medium-high speed until stiff peaks form.

Add the sweetened condensed milk and peppermint extract, and stir carefully so as not to deflate the whipping cream. If you like, add a drop or two of red food coloring as well. Fold in the crushed candy canes.

Spread the mixture evenly in the chilled pan. Cover the pan in plastic wrap and freeze for at least 6 hours before serving.