Mix together condensed milk, peppermint, and powdered sugar. A thick dough will form.
On a flat surface, sprinkle a small amount of powdered sugar. Lay out your peppermint dough and roll into a ¼ inch thickness.
Using a small cookie type cutter (about 1 inch), cut out your peppermint patties. Lay them on a cookie sheet to transfer to the fridge. Repeat until all are cut out. You should have about 45 circles.
Transfer to refrigerator and allow them to cool for about 45 minutes.
While they are cooling, microwave chocolate chips and oil in 30 second intervals until completely melted. Stir between each interval and continue until smooth.
After the peppermint patties have cooled for the 45 minutes, remove them from the fridge.
Then, using a fork, remove a patty from the cookie sheet and dip in chocolate.
Place dipped patty on a piece of parchment or wax paper and repeat the process.
If adding sprinkles, be sure to add while the chocolate covering is still wet. The chocolate will harden as it cools.
Place dipped candies back in the fridge to set for at least 30 minutes.
Enjoy!
Notes
Store in an airtight container and refrigerate or freeze.