Prepare the chocolate cake according to the instructions on the back of your boxed cake mix. We recommend that you bake the cake in an 8-inch springform pan or an 8x8 metal cake pan. Allow the cake to fully cool after baking.
Taking your choice of ice cream, line the same sized baking pan you used for your cakes, with parchment paper. Scoop your ice cream and pack it down with another layer of parchment paper. Place in the freezer and freeze for 1-2 hours.
Once your cakes are fully cooled, and your ice cream is solid, it is time to assemble. Place your first layer of cake on the serving dish. Remove your ice cream from the pan and peel back the parchment paper. Place the ice cream on top of your first cake. Set the top layer of cake on the ice cream. We recommend that you cover and place your assembled cake in the freezer for 12-24 hours to allow it to fully freeze.
After your cake is frozen, it is time to prepare your hot fudge. In a large saucepan add your sugar and cocoa powder and mix them together. Add your heavy cream and mix until combined. Place your saucepan over medium heat and allow it to warm up. Once warm add your butter and stir until melted. Once your butter is melted, your mixture should be hot. Stir in your vanilla and remove from the burner’s heat. Allow it to sit for five minutes.
Remove your frozen cake from the freezer and slice your pieces to serve. Top with fresh hot fudge, cool whip, and cherries. Serve right away and enjoy!