2
Prepare cake batter and bake in 2 (8-inch) round pans as directed on package. Cool cakes in pans 15 min. Invert onto wire racks; gently remove pans. Cool cakes completely.
3
Reserve 1/4 cup marshmallow creme for later use. Beat remaining marshmallow creme with cream cheese and vanilla in large bowl with mixer until blended. Gently stir in COOL WHIP.
4
Stack cake layers on plate, filling and frosting layers with cream cheese mixture.
5
Combine cereal and reserved marshmallow creme; shape into ball with moistened hands. Place on sheet of parchment.
6
Melt chocolate as directed on package; stir in food coloring. Pour just enough melted chocolate over cereal ball to completely coat ball. Reserve remaining melted chocolate for later use.
7
Dip open end of waffle cone in remaining melted chocolate; place on top of chocolate-coated cereal ball, pressing gently into ball to secure. Let stand 5 min. or until chocolate is firm.
8
Spread remaining melted chocolate onto top of cake, allowing some chocolate to drip down side of cake. Top cake with sprinkles and cone-topped cereal ball. Let stand 15 min. or until chocolate is firm.