Line a 9"x13" pan with parchment paper, leaving some overhang.
For the chocolate fudge layer, add the chocolate chips, condensed milk, and butter to a medium saucepan over low to medium heat. Stir the mixture until everything is melted, combined, and smooth. Remove from the heat and stir in the peppermint and vanilla extracts.
Pour the chocolate fudge layer into the prepared pan, and leave to set for 30 minutes before making the peppermint fudge layer.
For the peppermint fudge layer, add the white chocolate chips, condensed milk, and butter to a medium saucepan over low to medium heat. Stir the mixture until everything is melted, combined, and smooth. Remove from the heat and stir in the peppermint extract.
Pour the peppermint fudge on top of the chocolate fudge.
Sprinkle the crushed candy canes evenly over the top of the fudge.
Sprinkle the mini chocolate chips evenly over the top of the fudge.
Place the pan of fudge into the refrigerator for 3-4 hours (or overnight) to harden.
Lift the fudge out of the pan using the excess parchment paper. Cut into 1" or 2" pieces to serve and enjoy!