Add the cream cheese and butter to a bowl. Using a spoon or small whisk, mix until smooth and creamy, pressing against the sides of the bowl to remove any lumps.

Add the powdered sugar gradually and mix until fully incorporated. Stir in the vanilla extract.

If the topping feels too soft, refrigerate for 10–15 minutes to slightly thicken.

Pour the milk into a saucepan and heat over low to medium heat until steamy, with small bubbles forming around the edges. Do not boil.

Whisk in the cocoa powder and chopped chocolate until fully melted and smooth.

Let the mixture simmer gently for 3–4 minutes, stirring often, until slightly thickened.

Remove from heat and stir in the vanilla extract, brown sugar and red gel food coloring, adding the color gradually until you reach your preferred shade.

Pour into mugs and top with a dollop of cream cheese topping. Garnish with chocolate shavings and red sprinkles. Serve warm.