Preheat your oven to 350°F.
In the bowl of a stand mixer add the butter, brown sugar and granulated sugar. Mix until nice and creamy - about 3 minutes.
½ Cup Unsalted Butter, ½ Cup Light Brown Sugar, ½ Cup Granulated Sugar
Add the vanilla and the egg and mix again until well combined.
1 teaspoon Vanilla Extract, 1 Each Large Egg
In another medium mixing bowl add the flour, baking soda, baking powder and salt and mix with a whisk. Slowly add to the butter mixture until totally combined.
1-½ Cups All Purpose Flour, ½ teaspoon Baking Soda, ¼ teaspoon Baking Powder, ½ teaspoon Salt
Fold in the chocolate chips.
1 Cup Semi Sweet Chocolate Chips
Empty out the cookie dough on a large cookie sheet lined with parchment paper.
Using a spatula press out the cookie dough into the shape of a heart, roughly about 1" thick.
Bake in the oven for 20 minutes, a little less if you want a softer cookie.
Remove from the oven and using a spatula quickly reshape the heart as it will have distorted somewhat during cooking. It'll melt.
Allow to cool for 15 minutes on the baking sheet then transfer to a wire rack to cool completely.
When you're ready to decorate the cookie and it has cooled completely add the butter to the bowl of your stand mixer and using the wire whip attachment beat the butter until fluffy.
½ Cup Unsalted Butter
Add the powdered sugar, ½ cup at a time so it doesn't get too messy.
2 Cups Powdered Sugar
Once all the powdered sugar has been added add the vanilla and the cream. Add the cream slowly making sure you get the consistency you want.
1-½ teaspoons Vanilla Extract, 2 Tablespoons Heavy Whipping Cream
Remove half of the mixture to a piping bag with a Wilton #1M tip. This will be your white (if you want to use white).
Add some red food color to the remaining frosting and mix. It is really hard to get a good red color, I usually settle for a shade of pink. If you want to go darker in shade add a little black (not too much though). That is how you would achieve a red too.
Pipe around the edge of the cookie, in alternate colors. Sprinkle with sprinkles.
Food Coloring and sprinkles
To write in the center take another piping bag with a small size 1-3 tip. Pipe one of the other colors into that bag, then pipe out the writing, as you choose.