In a large mixing bowl, blend 1 can of sweetened condensed milk and ½ cup of softened unsalted butter using a hand mixer on medium speed until smooth, which should take about 2-3 minutes.

Gradually sift in 4 cups of powdered sugar while mixing on low speed, allowing the sugar to incorporate without creating a cloud.

Stir in 1 teaspoon of peppermint extract and, if desired, a few drops of food coloring to the dough.

If the dough feels too soft to handle, cover the bowl with plastic wrap and refrigerate for 10-15 minutes.

Once chilled, roll the dough into 1-inch balls using your hands, or use cookie cutters for various shapes.

Allow the mints to firm up at room temperature for about 1 hour.

After the mints have set, transfer them to an airtight container, storing them at room temperature for up to 1 week.