Red Velvet Candy Cane Fudge

"My favorite kind of cake, red velvet, inspired me to create this fudge. If you like, spoon the candy mixture into paper-lined mini-muffin cups instead of spreading it into a pan. —Crystal Schlueter, Northglenn, Colorado..."

INGREDIENTS
1 teaspoon butter
2 packages (12 ounces each) white baking chips, divided
2/3 cup semisweet chocolate chips
3 teaspoons shortening, divided
1 can (14 ounces) sweetened condensed milk
1-1/2 teaspoons red paste food coloring
4 cups confectioners' sugar, divided
6 ounces cream cheese, softened
1 teaspoon vanilla extract
1/4 teaspoon peppermint extract
3 tablespoons crushed peppermint candies
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