Line an 11x7-in. pan with foil and grease foil with 1 1/2 teaspoons butter; set aside. In a bowl, melt chocolate chips and remaining butter in the microwave; stir until smooth. Stir in Chocolate Milk and extracts until well blended. Spread into foiled pan. Refrigerate until set.
Using foil, lift fudge out of pan. Discard foil; cut fudge into 1-in. squares. Store in refrigerator.