For the crust, stir together all ingredients in a bowl until all crumbs are moistened and then press into the bottom of a 9x13" cake pan. Place it in the freezer while you prepare the cream cheese layer.

For the cream cheese layer, in the bowl of an electric mixer, cream together cream cheese, powdered sugar, and peppermint extract. Fold in whipped topping, 1/4 c. crushed peppermints, and red food coloring. Spread over crust, sprinkle with additional crushed peppermints, if desired, and store in the refrigerator, covered, until ready to serve.