Place the chocolate in a large microwave safe measuring cup.
Add the milk and whipping cream.
Stir in the peppermint extract.
Microwave the cocoa on high for 5 minutes.
Remove and stir until the chocolate has completely melted.
Notes
You can also make this in a pot on top of the stove. Just put all ingredients in a heavy bottomed pot and heat on low stirring constantly until all white chocolate is melted.