Preheat oven to 325°. Place a greased 9-in. springform pan on a double thickness of heavy-duty foil (about 18 in. square). Securely wrap foil around pan.
In a small bowl, combine cookie crumbs and butter. Press onto the bottom and 1 in. up the sides of prepared pan. Place pan on a baking sheet. Bake 12-14 minutes or until set. Cool on a wire rack.
In a large bowl, beat cream cheese and sugar until smooth. Beat in the sour cream, flour and extracts. Add eggs; beat on low speed just until combined. Fold in chips. Pour into crust. (Pan will be full.) Place springform pan in a large baking pan; add 1 in. of hot water to larger pan.
Bake at 325° 1-1/4 to 1-1/2 hours or until center is just set and top appears dull. Remove springform pan from water bath. Cool on a wire rack 10 minutes. Carefully run a knife around edge of pan to loosen; cool 1 hour longer. Refrigerate overnight. Remove sides of pan.
For topping, in a large bowl, beat cream cheese and sugar until smooth. Stir one-fourth whipped topping into mixture; fold in remaining whipped topping. Spread or pipe onto cheesecake. Garnish with miniature candy canes if desired.