In a blender, combine ice cream, ice, milk, vodka, peppermint schnapps, and peppermint extract. Blend until smooth and thick. Place in freezer.

In a chilled mixing bowl with chilled beaters, beat whipping cream and red sugar until thick and pink

Add cinnamon schnapps and beat until soft peaks form

Spoon alternating layers of ice cream mix and whipped cream mix into glasses and swirl lightly

Garnish with crushed candy canes and serve immediately