Pink Lemonade Pie

1 (6 ounce) can frozen pink lemonade, thawed
1 (14 ounce) can sweetened condensed milk
1 (8 ounce) can crushed pineapple, undrained
1 cup chopped walnuts
Few drops red food coloring
1 (12 ounce) container frozen whipped topping, thawed
2 (9-inch) graham crackers crusts or1 graham crust,
    in the bottom of a 13 x 9-inch baking pan

Mix lemonade with milk; add pineapple, nuts and food coloring. Fold in whipped topping. Pour into crusts. Refrigerate 3 to 4 hours.

Makes 16 servings.

NOTE: May also be frozen. Let stand at room temperature for a few minutes before serving.