In a blender, add milk, 2 cups of blueberries, honey, and vanilla and blend until puréed.
Over medium heat, combine the blueberry mixture and white chocolate in a saucepan. Heat, stirring frequently, for 5 to 8 minutes, or until the white chocolate is melted and the mixture is steaming.
Divide equally between 4 mugs. Garnish each mug with 2 tablespoons of whipped cream and 2 tablespoons of fresh blueberries.