Prepare the cream cheese base: In a mixing bowl, beat the cream cheese until smooth. Add powdered sugar and vanilla extract; mix until fully combined.
Whip the cream: In a separate bowl, whip heavy cream to stiff peaks. Gently fold into the cream cheese mixture.
Tint and fold candy canes: Split the filling into two portions. Tint one portion with red food coloring. Fold crushed candy canes into both portions.
Assemble the pie: Spoon the white filling into the crust. Dollop the red filling on top and swirl gently with a knife to create a festive pattern.
Garnish: Sprinkle remaining crushed candy canes on top.
Chill: Refrigerate for at least 4 hours or overnight for best results.
Serve: For clean slices, dip your knife in hot water before cutting. Serve chilled.