In a large bowl, mix sugar cookies with cream cheese until combined. Roll the mixture into balls and set onto a plate. Freeze for 20 minutes. Place chocolate chips in a microwave-safe bowl.
Heat in the microwave in 30-second intervals, stirring well until it is fully melted and smooth. Stir in the food coloring. Coat each cookie truffle and set onto a plate. Top with a heart shaped sprinkle and let sit until it is completely set.