In a medium bowl, combine the vanilla wafer crumbs and the butter. Press onto the bottom and sides of a 9-inch pie plate. Chill until firm.
PREPARE THE FILLING:
In a large bowl, use an electric mixer to beat the cream cheese until fluffy.
In a separate bowl, use an electric mixer to combine the whipping cream, sugar and vanilla; whip until thickened but not stiff. Gradually add to the cream cheese, beating until smooth and creamy. Use a rubber spatula to fold in the cranberry sauce, reserving a few whole cranberries for garnish.
Spoon the filling into the crust; freeze until firm.
Remove from freezer 20 to 30 minutes before serving. Top with additional whipped cream and reserved cranberries (if desired).
Notes
*To crush vanilla wafers, place in a freezer zip bag and mash with a meat tenderizer (or use a food processor).