1Heat oven to 350°F. Line 2 (9-inch) round cake pans with foil; grease bottoms only with shortening or cooking spray.
2Make brownie batter directed on box. Divide batter evenly between pans. Bake 19 to 22 minutes or until toothpick inserted 2 inches from side of pan comes out almost clean. Cool completely in pans, about 1 hour. Do not remove from pans.
3Spread slightly softened ice cream evenly on brownies in pans. Freeze at least 2 hours or until ice cream is firm.
4Remove desserts from pans; remove foil. Place on serving plates. Cut each dessert into 8 wedges. Drizzle each wedge with hot fudge topping. Decorate with candy sprinkles and cherries. Store covered in freezer.