In a stand mixer, combine sweetened condensed milk, peppermint extract, and vanilla extract. Gradually add powdered sugar until a dough forms and is smooth to the touch.

Knead the dough with your hands, then roll it out to ½-inch thick. Use a cookie cutter to cut out 1 to 1½-inch circles. If the dough feels soft, chill it in the freezer briefly.

Arrange the cut patties on a parchment-lined baking sheet. Freeze them for 15 minutes to firm up the filling before coating.

In a microwave-safe bowl, melt the chocolate in 30-second increments, stirring in between until it's smooth. Let it cool slightly to avoid melting the patties during dipping.

Using a fork, dip each patty into the melted chocolate ensuring it is fully coated. Place them back on the baking sheet and sprinkle with optional decorations if desired.

Refrigerate the dipped patties for 20 minutes, allowing the chocolate to harden into a delightful shell.