Pour the heavy whipping cream into a stand mixer. Add the sugar and begin mixing on medium speed for 3-4 minutes.
Right before it stiffens and begins to peak, stop mixing.
Add the cream cheese. Mix on medium speed for 3 minutes. Store it in the fridge while we work on the hot chocolate.
Heat the 4 cups of milk in a saucepan on medium heat. Mix in the chocolate chips and salt, stirring continually until combined and completely warmed. Add the food coloring and stir to combine.
Top with cream cheese whipped cream and lightly sprinkle with cocoa powder.