Place cookie sheet on oven rack. Heat oven to 375°F. Let 1 crust thaw 10 to 20 minutes. Prick bottom and around side thoroughly with fork. Bake on cookie sheet 9 to 11 minutes or until very light golden brown.
In medium bowl, beat cream cheese with electric mixer on medium speed until light and fluffy. Gradually beat in egg and condensed milk. Beat in 1 tablespoon lime peel and the lime juice. Spread over crust.
Bake 25 to 30 minutes or until center is set. Cool 30 minutes. Cover loosely; refrigerate at least 3 hours until chilled. Just before serving, top with whipped topping. Garnish with additional lime peel. Cover and refrigerate any remaining pie.