PLACE 28 cookies in single layer on parchment-covered baking sheet. Chop remaining cookies.
MIX cream cheese and sugar in large bowl until blended. Gently stir in whipped topping and chopped cookies.
REFRIGERATE 2 hours.
SCOOP cream cheese mixture into 28 balls, using about 2 Tbsp. cream cheese mixture for each ball. Roll, 1 at a time, in sprinkles, turning until evenly coated on all sides. Place on cookies on prepared baking sheet.