Place a large heavy bottomed pan over low heat. Add coconut and condensed milk. Cook, stirring continuously for 2-3 minutes or until the mixture gets a semisolid consistency. Add cardamom and ghee. Cook again, stirring continuously, for 2-3 minutes or until the mixture starts to leave the sides of the pan. Remove from heat.
Divide the mixture into two equal parts, and add a few drops of red food color to one half of the mixture. Mix well to get a dark pink hue. Set aside.
Grease and line a slice pan or a small plastic container with baking or parchment paper. Make sure the paper is overhanging at the sides. Add the pink coconut mixture into the container. Use a spatula to spread the mixture in one single layer. Add the white mixture on top of the pink layer. Use a spatula to spread the white mixture in a single layer. Smooth the top.
Place the container in the fridge for an hour to set. Once set, cut into desired shapes. Sprinkle with more coconut if you like. Serve.