Add ice cream, milk, fudge, bourbon, schnapps, and candy to a blender and blend for 20 to 30 seconds.
Dip rim of glass into hot fudge and lightly press shredded sweetened coconut onto fudge. Fill glass with blended milkshake. Top drink with a scoop of ice cream, more hot fudge, and a coconut candy bar split in half on top.