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Step 1
Spread 1/3 of the peppermint candy over a 9x13-inch baking pan lined with wax paper.
Step 2
Melt the milk chocolate in the top of a double boiler over just-barely simmering water, stirring frequently and scraping down the sides with a rubber spatula to avoid scorching, just until melted. Pour the melted chocolate over peppermint candy in the prepared pan. Sprinkle another 1/3 of the candy on top of the milk chocolate. Refrigerate until the chocolate hardens, about 30 minutes.
Step 3
Melt the white chocolate in the top of a double boiler over just-barely simmering water, stirring frequently and scraping down the sides with a rubber spatula to avoid scorching. Stir in the oil-based peppermint flavoring. Pour the white chocolate over the milk chocolate, then spread the remaining 1/3 peppermint candy on top.
Step 4
Refrigerate until the white chocolate hardens, about 30 minutes. Cut or break into pieces to serve.