Line a 9 x 9 baking dish with foil, plastic wrap or parchment paper.
Using a food processor crush the cookies and pretzels.
50 vanilla wafers, 1/2 cup pretzel twists
Combine the cookie crumbs with the butter.
1/3 cup butter
Press half the crumb mixture onto bottom of prepared pan.
In medium-sized bowl, using an electric mixer combine the cream cheese, sweetened condensed milk, vanilla and peppermint until well combined.
16 ounces cream cheese, 14 ounce sweetened condensed milk, 1 teaspoon vanilla extract, 1 teaspoon peppermint extract
Fold in the whipped topping.
8 ounces whipped topping
Gently stir in 1 Tablespoon of the Christmas sprinkles.
2 Tablespoons Christmas sprinkles
Pour the cream cheese mixture over the crust in the pan.
Top with the remaining crumb mixture.
Sprinkle the remaining sprinkles all over the top pressing down gently.
Cover and freeze for 4 hours or overnight.
When ready to serve let the cake sit for 10 minutes to thaw slightly.
Remove the cake from the pan and slice.