In a large bowl, combine the first four ingredients. Store in an airtight container in a cool, dry place for up to 6 months. Yield: 2 batches (8 cups total).
To prepare cookies: Contents of mix may settle during storage. When preparing recipe, spoon mix into measuring cup. In a large bowl, cream the butter until light and fluffy. Beat in egg and extracts. Gradually add 4 cups cookie mix; mix well. Cover and chill for 2-3 hours or overnight.
On lightly floured surface, roll out dough to 1/8-in. thickness. Cut with a lightly floured 2-1/2-in. cookie cutter. Place 1 in. apart on ungreased baking sheets.
Bake at 375° for 7-9 minutes or until the edges are lightly browned. Remove from pans to cool on wire racks.
For frosting: In a small bowl, beat the butter, confectioners' sugar and vanilla until smooth. Gradually add milk until desired consistency is achieved. Add food coloring to some of the frosting if desired. Frost and decorate one batch cookies.