In a small bowl, beat cream cheese and sugar until smooth. Beat in 1 cup cream until soft peaks form. Fold in walnuts. Spread into crust. Coarsely chop 1 package peppermint candies; fold into ice cream. Spread over cream cheese mixture. Drizzle with fudge topping. Freeze for 1 hour.
In a small bowl, beat remaining cream until it begins to thicken. Add the confectioners' sugar, extract and food coloring if desired; beat until stiff peaks form. Garnish pie with whipped cream mixture and remaining candies. Freeze. Remove from the freezer 15 minutes before serving. Yield: 6-8 servings.