In a large mixing bowl, blend 1 can of sweetened condensed milk with ½ cup of softened unsalted butter using a hand mixer on medium speed for 2-3 minutes until smooth.

Gradually sift in 4 cups of powdered sugar while mixing on low speed for about 3-5 minutes until the dough thickens.

Stir in 1 teaspoon of peppermint extract and add food coloring if desired, mixing until evenly distributed.

If dough feels too soft, chill in the refrigerator for 10-15 minutes to firm up.

Roll chilled dough into 1-inch balls or use cookie cutters to create shapes and place on a parchment-lined baking sheet.

Allow mints to sit at room temperature for about 1 hour to set and firm up.

Transfer set mints to an airtight container for storage; keep at room temperature for a week or refrigerate for a firmer texture.