Preheat the oven to 350 degrees F. Line a baking sheet with parchment.
Divide the cookie dough between 2 pieces of parchment or wax paper. Spread out the dough lengthwise across the paper, then roll the paper to cover it and use your hands to roll the dough pieces into 14-inch logs about 1/2-inch thick. Slice into 1/4-inch rounds and place on the prepared baking sheet about 1 inch apart. Bake until golden brown, 8 to 10 minutes. Remove to a cooling rack.
Spray an 9-by-13-inch baking dish with nonstick cooking spray, then line with parchment, leaving a 2-inch overhang.
Crumble half of the cookies into small pieces, reserving the rest whole for topping. Heat the sweetened condensed milk in a large saucepan over low heat. Add the white chocolate chips, cream cheese and salt and cook, stirring, until melted and smooth. Slowly add the confectioners' sugar, stirring it in vigorously.
Remove from the heat and stir in the crumbled cookies and red and green sprinkles. Spread into the prepared baking dish. Arrange the whole cookies on top of the fudge sticking upright at different angles. Freeze for 1 hour or until firm.
Cut into 1-inch squares. Serve chilled or at room temperature.