In a large mixer bowl at low speed, beat cream cheese until fluffy. Gradually beat in condensed milk, then lemonade concentrate and food color until smooth. Fold in 2 cups whipped cream. Mound into crust. Cover and freeze at least 12 hours.
Uncover and place in refrigerator 1 hour before serving. Garnish with whipped cream, lemon slices, and lemon leaves if desired.
Note: For easier serving, set pie plate on a warm damp towel briefly before cutting.