In large bowl, beat butter, powdered sugar, 1/4 cup of the whipping cream and the peppermint extract with electric mixer on medium speed until smooth. If frosting is too thick, stir in remaining 1 tablespoon whipping cream. Stir in food color. Frost brownies. Refrigerate at least 2 hours. Use foil to lift out of pan. Cut into 8 rows by 6 rows. Top with shaved candies.