MELT margarine in large saucepan over low heat. Add marshmallows and stir until completely melted. Remove from heat. Stir in food coloring.
ADD KELLOGG'S CORN FLAKES cereal. Stir until well coated.
PORTION warm cereal mixture evenly by using a 1/4 cup dry measure coated with cooking spray. Using sprayed fingers, quickly shape into individual wreaths. Dot with cinnamon candies, using prepared frosting to hold candies in place. Store in single layer in airtight container.