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Preheat oven to 350° F. Beat the butter until fluffy. Without stopping beating, add sweetened condensed milk, eggs one at a time, evaporated milk, flour, baking powder and cookies; keep beating until fully mixed.
Place paper liners in cupcake molds and fill the liners 3/4 full. Bake for 20 minutes or until a wooden pick inserted comes out clean. Let cool on wire rack.
Heat media crema until it begins to bubble; remove from heat and mix in white chocolate and food coloring. Frost the cupcakes; decorate with red fondant bows if desired.