Preheat the oven to 350° and grease an 8x8-inch baking dish with nonstick cooking spray.
Place Ritz crackers in a food processor and process until they are fine crumbs. Pour them into a bowl and combine with sweetened condensed milk.
Press moistened crumbs into the baking dish and bake for 10 minutes.
Remove from oven and immediately pour the chocolate chips over the top of the bars. Allow to melt from the heat of the bars, then spread evenly over the top.
Sprinkle crushed candy canes over the top.
Allow to cool completely before cutting into squares.