Place candy melts in 3 separate microwave-proof containers and microwave each one on High, for 20 seconds at a time until melted, stirring in between cooking times.
Place 1 cup of cereal in a small mixing bowl.
Add 2 Tbsp of Confectioners sugar each, to 3 separate quart size zipper bags.
Mix in 1 tsp of shortening with melted pink chocolate and stir until smooth.
Pour melted chocolate over the 1 cup of cereal and stir until all cereal is coated.
Quickly spoon the candy-coated mixture into one of the zipper bags, seal and shake. Shake until all of the cereal is coated.
Pour the candy onto a parchment lined baking sheet to dry.
Repeat steps 2-7 with the white and red candy coating.
Allow all of the candy coated cereal to dry for 2 hours.
Pour into a large serving bowl and toss with M&M's.
Enjoy!