Preheat the oven to 375 degrees.
In a large bowl combine the flour, baking soda, and salt. Set aside.
In a medium bowl cream the butter, sugar, and brown sugar. Stir in the vanilla.
Mix in the eggs one at a time.
Add the wet ingredients to the dry ingredients and mix until combined.
Gently fold in the chocolate chips and Valentine's Day M&M's.
Spread the cookie batter into a greased 12 inch circular baking pan.
Bake for 20-25 minutes or until the cookie is golden brown and a toothpick inserted into the center comes out clean.
Remove from oven and cool completely.
In a medium bowl beat the butter with a mixer until smooth. Add in the vanilla and mix well.
Add in the powdered sugar a half cup at a time, mixing in between each addition, until the frosting is thick. Stir in the milk 1 tablespoon at a time until desired consistency is reached.
Add food coloring to the frosting and pipe it on the cake. Top with sprinkles or Valentine's Day M&M's.