PREHEAT oven to 350° F. Line 2 to 3 baking sheets with foil. Grease each lightly.
REMOVE wrappers on candies and place in resealable plastic food storage bag. Use a mallet or rolling pin to crush candies into small pieces; set aside.
CRUMBLE dough into medium bowl. Add flour; mix until combined.
SPRINKLE work surface lightly with flour. Roll out dough to 1/4-inch thickness, using additional flour as needed to prevent sticking. Cut out hearts with the larger cutter. Transfer to prepared baking sheets, placing about 2 inches apart. With smaller cutter, cut out heart in center of each big heart, reserving center dough. Using a straw or tip of wooden pick, make a small hole in top of cookie heart. Remaining scraps of dough can be rolled out again to make more heart ornaments. Spoon or sprinkle crushed candies in centers of hearts, enough to cover foil. Refrigerate for 10 minutes.
BAKE for 9 to 10 minutes or until golden brown. Remove from oven to wire rack. Working quickly, use tip of wooden pick or small, sharp knife to make small holes in top of cookie hearts. Cool completely before removing hearts from foil. String with ribbon. Store in airtight container.
*Size of hard red candies vary. Once crushed, about 1/2 cup will be needed for the ornaments.