1Heat oven to 350°F (325°F for dark or nonstick pan). Place paper baking cup in each of 24 regular-size muffin cups.
2In large bowl, stir together dry cake mix, 1 cup malted milk balls and 1/4 cup malted milk powder. Add water, oil and eggs. Beat with electric mixer on low speed 2 minutes. Divide batter evenly among muffin cups.
3Bake 21 to 26 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pan. Cool completely, about 1 hour.
4In medium bowl, beat frosting ingredients on medium speed until smooth. Frost cupcakes. Sprinkle with 1 2/3 cups malted milk balls. Store loosely covered.