Place 36 paper baking cups in muffin pans; spoon batter evenly into paper cups, filling two-thirds full. Bake at 350° for 18 minutes or until a wooden pick inserted in center of cupcake comes out clean. Remove cupcakes from pan, and let cool completely on wire racks.
Melt white chocolate morsels in a microwave-safe bowl at HIGH for 30-second intervals until melted (about 1 1/2 minutes total). Stir until smooth, and spread in a 1/4-inch-thick layer on a foil-lined baking sheet. Sprinkle evenly with peppermint candy. Chill 30 minutes or until firm. Remove from baking sheet, and chop.
Spread cupcakes evenly with Vanilla Buttercream Frosting; sprinkle evenly with chopped candy mixture.