1Heat oven to 400°F. Place paper baking cup in each of 18 regular-size muffin cups.
2Chop doughnuts. In large bowl, mix whipping cream, vanilla and eggs with wire whisk until blended. Gently fold in chopped doughnuts and chocolate chips. Divide batter evenly among muffin cups, filling each with about 1/3 cup batter or until almost full.
3Bake 17 to 19 minutes or until set. Cool 10 minutes; remove cupcakes from pans to cooling rack. Cool completely.
4Spoon frosting into decorating bag fitted with large round tip. Pipe frosting around edge of each cupcake, leaving center unfrosted. Decorate with sprinkles. Store loosely covered.