Combine butter, powdered sugar, extracts, and food coloring in a large bowl with an electric mixer until well combined and fluffy.Note: Make sure that the butter is room temperature, not chilled.
Add milk and flour. Mix thoroughly.
Scrape the bowl with a rubber spatula and press the dough together.
Fit a sturdy pastry bag (if using a disposable bag, double it up for strength) with a large star tip. Add a few spoonfuls of cookie dough. Note: DO NOT fill the bag more than ½ full. ⅓ full is ideal. Refill the bag as needed.
Pipe cookies into a "V"- shaped heart on an ungreased baking sheet (or a Silpat-lined baking sheet). Do not use parchment paper, as it will move around the cookie dough and won't stick to it as well as Silpat or metal. Space cookies 2" apart.
Bake cookies for 12-15 minutes. Edges should be slightly golden.Allow the cookies to cool for 10 minutes, then remove them from the baking sheets and place them on a wire cooling rack.
Dip cookies in melted chocolate, if desired, then place on a parchment-lined baking sheet. Add sprinkles.
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Notes
Store cookies in an airtight container for up to 7 days. Cookies freeze well and can be stored in the freezer for up to 6 months.Tips
Use LARGE frosting tips (at least ½" wide).
The dough is thicker than frosting, so you'll need to use more pressure to pipe the shapes.
Cookies are best eaten cold, so let them cool completely to allow them to crisp up.