Preheat your oven to 350 degrees Fahrenheit.
Spray a 9x13 baking dish with non-stick spray.
In a large mixing bowl, use a fork to cut the butter and flour together, until combined, light and crumbly.
Press this mixture into the bottom of the baking dish.
Bake 25 minutes.
Allow the crust to cool.
In a large mixing bowl, beat cream cheese and powdered sugar. Add a very generous amount of blue gel food coloring, and mix until well combined.
Layer this mixture into the pan over the crust and smooth out evenly.
Move this to the refrigerator for 30 minutes to set.
In a large mixing bowl, whisk together pudding, milk, and a generous amount of red gel color.
Layer this over top of the cream cheese layer.
Finally, add the cool whip, and carefully smooth out evenly.
Move the dessert to the refrigerator to chill for 6 hours, or overnight.
If desired, top with sprinkles before serving.