Place the softened Butter, and Cream Cheese in the mixing bowl of a stand mixer, and mix with the whisk attachment until smooth and creamy.
Add the Vanilla, and Heavy Cream, and mix on low until blended.
Add the Powdered Sugar about a cup at a time, blending between additions, and scraping down the mixing bowl as needed, until all the Powdered Sugar has been added, and the Frosting is thick and creamy. (The Frosting should be able to be held upside down on a spoon, and not fall).
If the Frosting needs to be a little thicker, add another cup of Powdered Sugar
When Cake is completely cool, remove the cakes from the pans, and place a teaspoon size dollop of the Frosting on the Cake Plate, or Cake Stand you are going to serve this Cake on.
Place the Aqua layer on the dollop of Frosting (this will help to keep the cake from sliding, or moving).
Frost generously on top of the Aqua layer (see photo) and gently place the White/Middle layer on top of the Frosting. Frost the sides, and top of both Layers, until you have a good smooth coat of the Frosting on the Cake.
Place the Red layer on top of the White frosted layer, and Frost the Red layer, top and sides, and place the Aqua Snowflakes around the outside bottom of the Cake.
Place the Cake in the refrigerator for about 2 hours to allow the Frosting to set. Cover the Frosting, and leave on the counter - DO NOT REFRIGERATE THE FROSTING - it will be too hard to pipe - leave it at room temperature until time to finish the cake.
After the two hours, place the remaining Frosting in a pastry bag with a Medium size Star Tip, and remove the Cake from the refrigerator.
Pipe the Frosting around the edges of the top of the Cake, in big dollops, swirling them up to a point.
Place an Oreo Cookie in between the dollops, standing them up all around the top of the Cake - see photo.
Place Candy Canes on each dollop of Frosting.
Crush the remaining Candy Canes, and sprinkle the crushed Candy Canes on top of the Cake to finish the top.
Place the Cake back in the refrigerator until time to serve.
When ready to serve, cut in two inch pieces, place more crushed Candy Canes, on dessert plates if desired. Serve, and Enjoy!