In a stand mixer with the whisk attachment or with an electric hand mixer, add the cream cheese to the bowl and beat for 30 seconds. Then add the butter and beat for another 30 seconds or until the butter and cream cheese are very well combined.

Add the icing sugar and turn the mixer on very slow or you and your kitchen will be covered in icing sugar. When the icing sugar is mixed in well enough so that it won't create a sugar cloud, gradually turn the mixer up to a medium high speed. Beat it well for 2 minutes.

Turn it down low again (or off if using a hand mixer) and add the melted chocolate that has cooled enough so that it won't melt the icing. It should be only slightly warm to the touch.

Blend that in and then blend in the vanilla and milk.

After everything has been added, turn your mixer up high again and beat for 3 or 4 minutes. It will get very fluffy. It is now ready to ice your cake or cupcakes.