Cook cream in a saucepan over medium heat 3 to 4 minutes. (Do not boil.) Remove from heat; stir in morsels and candy coating until melted. Cool 1 1/2 hours. (Mixture should reach room temperature.)
Beat at medium speed with an electric mixer 4 to 5 minutes or until spreading consistency. (Do not overbeat.)
Note: If frosting separates, reheat mixture, and proceed as directed.