Line a 9 by 13 inch pan with parchment paper and set aside. You could also use a square pan, or even a big Tupperware.
In a bowl, beat the heavy cream until stiff peaks form. In a separate bowl, fold together the sweetened condensed milk, vanilla extract and peppermint extract. Pour the sweetened condensed milk mixture into the whipped cream and fold them together.
If desired, add 1-2 drops of green food coloring and fold until the color is mixed in. Add the chocolate chips and fold together until completely incorporated.
Pour the ice cream into the prepared pan, top with more chocolate chips if desired, and freeze overnight or for at least 10-12 hours. Enjoy!