In a microwave safe bowl or measuring cup, melt the chocolate chips in 15 second intervals stirring each time until melted, approximately 1 minute. Remove from microwave, add in the dark corn syrup and red food colouring. Stir thoroughly to mix.
Store in an airtight container in the refrigerator for up to one month. If it gets too thick to pour, warm for 15 seconds in the microwave.