Pour the heavy whipping cream into a mixing bowl and beat on high speed until soft peaks begin to form, making sure not to over-mix the cream as you’re beating.
When the cream has thickened, add the milk, sugar, and cream cheese. Mix on low speed to keep the ingredients from splashing out, then gradually increase the speed. Continue mixing until all the ingredients are thoroughly combined and the mixture is smooth and creamy.
Add the food coloring to the bowl and stir slowly until the ice cream is tinted.
Then, add the red velvet cake crumbles. Fold the cake pieces into the ice cream until they’re well distributed.
Pour the ice cream mixture into a cake pan and transfer the dish to the freezer.
Store the ice cream in the freezer until it’s fully frozen, 6 to 8 hours or overnight.