Frozen Ambrosia Pie

1 (11 ounce) can mandarin oranges in light syrup
1 (8 1/4 ounce) can crushed pineapple in heavy syrup
1 (8 ounce) package cream cheese, softened
1 (14 ounce) can sweetened condensed milk
2 1/2 cups frozen whipped topping, thawed and divided
3/4 cup flaked coconut, toasted (see below)
1 (9 ounce) graham cracker crust (extra serving size)
Garnishes: maraschino cherries, pecans, toasted flaked coconut (as desired)

Drain oranges and pineapple, reserving 2 tablespoons pineapple syrup. Gently press oranges and pineapple between paper towels to remove excess moisture.

Beat cream cheese at medium high speed of an electric mixer until creamy. Gradually add reserved pineapple syrup and milk, beating until smooth. Fold in 1 1/2 cups whipped topping. Gently fold in orange pineapple mixture and 3/4 cup coconut. Spoon filling into crust. Cover; freeze until firm.

Let pie stand at room temperature 20 minutes before serving.

Dollop remaining 1 cup whipped topping on top of pie. Garnish as desired.

How to toast coconut:
Toasting coconut enhances the flavor and lightly colors the coconut a very light golden brown color. Spread the coconut in a single layer on a baking sheet with shallow sides. Bake at 325 degrees F, tossing occasionally, for about 10 minutes.