Using a stand mixer (or a hand mixer + large bowl), blend together heavy whipping cream, powdered sugar, cocoa powder, and vanilla on high until dip has the consistency of fluffy frosting, about 3-5 minutes.
Turn off mixer and scrape along the sides of the bowl, mixing in any wayward cocoa or sugar. Taste test the dip; it should taste like rich dark chocolate at this stage. If you'd like a sweeter base for your dip, you can add anywhere from 1-4 tablespoons more powdered sugar. (Keep in mind that the toffee bits will sweeten the dip as well).
Pour in Heath toffee bits and gently fold them into the chocolate cream until toffee is thoroughly mixed throughout.
Transfer Christmas crack dip to a serving bowl and top with more toffee bits and festive sprinkles. Serve immediately with saltine crackers for dipping.
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