Combine 4 oz. softened cream cheese and 1/2 c. Red Velvet cake mix; mix until well blended.
Unroll crescent roll dough. Fill each triangle with 1 Tbsp. cream cheese mixture and approx. 10 chocolate chips.
Roll dough loosely into crescent shapes.
Bake according to package instructions.
For icing, combine 1/3 c. powdered sugar, additional 1 oz. softened cream cheese, and 1 1/2 tsp. milk.
Drizzle over baked crescent rolls.