Line an 8-inch square pan with parchment paper, set aside.
Place 2 cups of white chocolate chips, 1 cup of milk chocolate chips, and 2 tbsp of butter into a medium-sized bowl. Pour 1 can of condensed milk over the chips.
Microwave for 45-60 seconds, then remove. Stir the mixture until all of the chips are melted and the mixture is smooth. Add 1 tablespoon of vanilla. Then, add food coloring and stir. If it is not red enough, add more color half of teaspoon at a time until the desired red color is achieved. Set aside.
Pour 3 cups white chocolate chips and 2 tbsp of butter into the other bowl. Add another can of condensed milk and microwave and stir the same way as the first bowl. Mix in 1 tablespoon of vanilla then, set the bowl aside.
Drop random spoonfuls of each of the red and white mixture into the lined pan so they look like patchwork. Keep adding spoonfuls until all the mixture is in the pan.
Take a knife and swirl the fudge so that it creates patterns.
Place the pan in the refrigerator for 2 to 3 hours, or overnight.
When the fudge is fully chilled, cut into squares and serve.
Recipe by our friend Monique @Peaches2peaches