Combine chocolate wafer crumbs and sugar in a bowl.

Add melted butter to the crumb mixture and mix well.

Press the crumb mixture firmly onto the bottom and part way up the sides of a wax paper-lined 9-inch springform pan.

Chill the crust in the refrigerator.

In a mixing bowl, beat softened cream cheese with an electric mixer on low speed until fluffy.

Gradually beat in sweetened condensed milk until smooth.

Stir in peppermint extract and red food coloring (if using) until well combined.

Gently fold in whipped cream.

Pour the cheesecake filling into the prepared crust.

Cover the pan and freeze for at least 6 hours, or until firm.

Garnish with chocolate fudge topping (if using) before serving.

Store leftover cheesecake covered in the freezer.