Line 8-inch round baking pan with plastic wrap. Scoop ice cream into prepared pan. Cover with plastic wrap. Press to form an even layer. Freeze 2 hours or until firm.
Prepare cake mix according to package directions using water, oil and eggs to make 2 (9-inch) cake layers. Cool completely.
Place 1 cake layer on freezer-safe platter, rounded side down. Upwrap ice cream layer; place on top of cake layer. Top with remaining cake layer. Press top of cake firmly to join layers. Freeze 2 hours or until firm.
Chill cream in large bowl. Beat with electric mixer on high speed until stiff peaks form. Blend in frosting. Working quickly, frost top and sides of cake, as desired. Sprinkle with candy bits from frosting. Freeze 2 hours or overnight. Let stand at room temperature 10 minutes before serving.