Line an 8×8 baking pan with foil (make sure there is some hanging over the sides for easy removal later) and set aside.

In a small saucepan over medium-low heat, melt 1 1/2 cups of the semi-sweet chocolate chips with 3/4 cup sweetened condensed milk, stirring occasionally until melted and blended together. Spread melted chocolate mixture into pan and chill in the refrigerator for 5-10 minutes while you make the orange layer.

Wash and dry the saucepan (or you can use another one if you’d rather). Heat over medium-low heat, add the white baking chips and remaining condensed milk and stir until melted and completely smooth. Remove from the heat and add orange extract and food coloring. Stir to combine and even distribute the food color. Spread orange layer over chilled chocolate layer. Score the top for easy cutting later, and if using candies place one in the center of each scored square.

Refrigerate at least 2 hours or until fudge is completely set (could take up to 4 hours).

Using the overhanging foil edges, remove from the pan, place on a cutting board and cut where previously scored. Store in an airtight container in the refrigerator up to two weeks. Fudge will freeze and thaw well.