Spray 9×5-inch glass loaf dish with cooking spray; wipe out excess.

In medium bowl, stir together sugar and 2 envelopes gelatin.

Add boiling water; stir 1 to 2 minutes or until gelatin and sugar are dissolved.

Stir in 1 cup cold water, the schnapps, vodka and enough food color to create bright red.

Pour gelatin mixture through fine-mesh strainer into 3- to 4-cup measuring cup.

Pour ¾ cup peppermint mixture into dish; freeze about 15 minutes or until firm.

(Keep remaining gelatin mixture at room temperature. )

Meanwhile, in 1-quart saucepan, sprinkle 2 envelopes gelatin over ¼ cup cold water.

Let stand 2 to 3 minutes to soften.

Heat over low heat, stirring constantly, just until gelatin is dissolved.

Gradually stir in liqueur and condensed milk with whisk.

Pour through fine-mesh strainer into another 3- to 4-cup measuring cup or pitcher.

When red gelatin is firm, pour ¾ cup white gelatin over red layer; freeze 15 minutes or until firm.

(Keep remaining gelatin at room temperature. )

Continue alternating layers of red and white mixtures three times, freezing until firm before adding another layer.

(Gently rewarm remaining gelatin mixture if it begins to firm up before being added to the layers. )

Refrigerate at least 3 hours.

To unmold, dip loaf dish in warm water a few seconds and gently loosen edges of gelatin with warm knife; turn out onto cutting board.

Cut gelatin into ¾-inch slices.

Cut each slice into five triangles or “trees” with 1-inch-wide bases.

Place on serving platter.

Cover; refrigerate until serving time.