Remove hooks from 24 candy canes; set aside sticks. Crush hooks and remaining candy canes.
Place 2 cups chocolate chips in a small bowl. In a small saucepan, bring cream and 3/4 cup crushed candy canes to a boil; cook and stir until candy canes are melted. Remove from the heat; stir in extract. Pour over chocolate; whisk until smooth. Cool to room temperature, stirring occasionally. Refrigerate until firm.
Shape chocolate mixture into 24 balls; insert a candy cane stick into each truffle. In a microwave, melt shortening and remaining chocolate chips; stir until smooth. Dip truffles in chocolate; allow excess to drip off. Roll in remaining crushed candy canes. Place on waxed paper; let stand until set.