To assemble the cake

1. Preheat the oven to 350 degrees. Lightly spray a jelly roll pan with cooking spray and line with parchment paper or a Silpat sheet.
2. Cream the butter, shortening, and sugars in a stand mixer at medium-high speed for 2-3 minutes until well combined. Scrape the bowl and add the eggs, one at a time, until well combined. Beat for an additional 2-3 minutes. Scrape the bowl and slowly add the liquid ingredients. Beat in the stand mixer until the batter is fluffy, lighter in color, and uniform. This will take 6-8 minutes. Be sure to scrape the bowl as needed throughout this process. Add the dry ingredients and 1/4 cup of the sprinkles and mix on low speed, just until combined, about one minute.
3. Pour batter into pan and spread out to smooth. Sprinkle the remaining 2 tablespoons of sprinkles evenly over top of batter. Bake for 30-35 minutes or until the center is no longer wiggly and will spring back slightly when touched. Allow to cool on a cooling rack until room temp.

To prepare the crumbs

1. Preheat oven to 300 degrees.
2. Combine dry ingredients, including sprinkles, in a stand mixer and mix to combine, about 30 seconds. Add the wet ingredients and continue to mix on low until small little clumps begin to form. Once combined, turn off mixer and pour the clumps out on to a small baking sheet.
3. Bake for 15 minutes, or until the crumbs are just beginning to turn golden. Allow to cool to room temp.

To prepare the cake

1. Loosen and remove cake from pan. Using the cake ring (or the bottom of a 6″ cake pan as a guide) cut out two 6″ round cakes from the sheet cake (see photo above in post as a guide). Then, cut out two half-moon shapes from the remaining sheet cake. This will be used to piece together your third and final layer. Set cake layers aside.
2. In a bowl of a stand mixer, beat the cream cheese on low speed until smooth, about 1 minute. Add sugar and beat until combined, about 30 seconds. Add corn syrup and vanilla and beat until smooth, about 1 minutes.
3. Fold 1/2 cup of Cool Whip into cream cheese mixture until well distributed. Add remaining 2-1/2 cups, folding gently until well combined. Slowly fold in the cake crumbs, reserving about 1/3 cup to decorate the top.
4. Line cake ring or pan with one acetate sheet. Place one cake layer in the bottom of inside of cake ring. If using the cake pan, line the bottom with a small piece of parchment to ensure easy removal from pan. Smooth 1/3 of the ice cream mixture over top of the top or cake layer. Place your two cake “half moons” on top of the ice cream and fill in with tiny cake pieces to create a makeshift 2nd layer. Top with another 1/3 of ice cream mixture. Wrap an additional acetate sheet to continue the 6×6″ tube you’re building this cake inside of (see photo) and tape to secure, if needed. Add the final layer of cake and smooth the remaining 1/3 of ice cream over the top.
5. Cover loosely with plastic wrap and freeze in the freezer until solid, about 4-6 hours, or overnight.