Line the baking dish with parchment paper to make it easier to take out and cut the fudge.
Melt the chocolate chips using the double boiler method.
Pour the sweetened condensed milk into the melted chocolate chips.
Add two drops each of the red and blue food coloring. Pour the fudge directly into the pan. The colors will swirl as you're pouring.
Top with star sprinkles and gently press them into the fudge.
Place the pan in the freezer for 30 minutes or in the fridge for 2-3 hours to let the fudge set. Take it out, lift up the parchment paper or wax paper, and the fudge will come right out.
Use a sharp knife to cut the fudge into 36 bite-sized squares.