Place the ice cream, milk, peppermint extract and chocolate chips in a blender. Blend on low speed until the mixture is combined. Add in the red food coloring and blend until the shake is a pink color. Add a little bit of food coloring at a time.
Add in the candy canes and blend until smooth and well combined.
Serve in a tall glass topped with the whipped cream and maraschino cherries. Enjoy!
Notes
If your milkshake is too thick, add more milk. If the milkshake is too thin, then add more ice cream to thicken it up.