In a stand mixer using a paddle attachment, cream together butter, shortening, and confectioners' sugar.
Add egg, almond extract, and vanilla extract. You can also use an electric hand mixer to do this.
In a separate mixing bowl, combine flour and salt. Add flour mixture to butter mixture and continue to mix on low speed. If you're using an electric hand, mixer, you may need to use a wooden spoon to mix at this point. Mix until it forms into a soft dough.
Divide dough in half and knead (or mix) red food coloring to one of the halves until color is even and blended through. Add as much food coloring as needed to get that bright red color.
Wrap each ball of dough tightly in plastic wrap and refrigerate for at least 1 hour.
When preparing to bake, preheat oven to 375℉.Shape one rounded teaspoon of dough from each half into a 4" rope shape. Smooth out each "rope" by rolling them back-and-forth on a slightly floured surface. Place the two "ropes" side-by-side.
Twist to complete each cookie.
Curve the top portion to create a hook. Place on a cookie sheet lined with parchment paper then curve down the top of each cookie to form the crook part of each candy cane.
Bake for 9 minutes or until set and very light brown.
While cookies are baking, mix crushed candies and granulated sugar. Remove cookies from the oven and Immediately sprinkle hot cookies with candy/sugar mixture.
When cookies are set enough to move, carefully move to a cooling rack to cool the rest of the way before serving.