Place 1/3 of the chocolate chips into a microwaveable bowl, place another 1/3 in another bowl and the last 1/3 in another bowl.
Melt one of the bowls of chocolate in the microwave in 30 second intervals, stirring inbetween each one until smooth. Stir in 1/3 of the sweetened condensed milk and 1/4 teaspoon vanilla extract. Add in blue food coloring until completely blue.
Pour the chocolate mixture into a 8-inch baking dish. Let set. Melt another bowl of chocolate in the microwave in 30 second intervals until smooth. Stir in another 1/3 of the sweetned condensed milk and 1/4 teaspoon vanilla extract. Pour mixture over the blue chocolate. Let chocolate set.
Melt the remaining bowl of chocolate in the microwave in 30 second intervals, stirring inbetween each one until smooth. Stir in the remaining sweetened condensed milk, 1/4 teaspoon vanilla extract and red food coloring. Stir until completely red.
Pour mixture over the white chocolate and let set. Refrigerate for at least 2 hours until set. Cut into squares and store in the freezer in airtight containers.
