LINE baking sheets with wax paper.
COMBINE sweetened condensed milk, peppermint extract and food coloring, if desired, in large bowl. Add 6 cups powdered sugar; beat on low speed until smooth and well blended. Turn mixture onto surface sprinkled with powdered sugar.
KNEAD lightly to form smooth ball. Shape into 1-inch balls. Place 2 inches apart on prepared baking sheets. Flatten each ball into a 1 1/2-inch patty.
LET dry 1 hour or longer; turn over and let dry at least 1 hour. With fork, dip each patty into warm candy coating (draw fork lightly across rim of pan to remove excess coating). Invert onto wax-paper-lined baking sheets; let stand until firm. Store covered at room temperature or in refrigerator.
*Also called confectioners' or summer coating.