In 1-quart microwavable bowl, microwave 12 oz of the candy coating uncovered on High 1 minute 30 seconds; stir. Continue microwaving and stirring in 15-second intervals until melted; stir until smooth. Remove one-third of the balls from freezer. Using 2 forks, dip and roll each ball in coating. Place on waxed paper-lined cookie sheet. Immediately sprinkle with crushed cereal. Melt remaining candy coating in 12-oz batches; dip remaining balls and sprinkle with cereal. Place in refrigerator.