1. Mix 1/4 cup of the whipping cream, the sugar and coffee in 2-quart saucepan. Cook over medium heat, stirring constantly, until sugar is dissolved and mixture simmers; remove from heat.
2. Stir in chocolate chips with wire whisk; stir until chips are melted. Stir in vanilla. Pour into large bowl; cool about 10 minutes or until room temperature. Beat remaining 1/2 cup whipping cream in chilled medium bowl on high speed just until soft peaks form. Fold whipped cream into chocolate mixture. Cover and refrigerate 30 minutes.