Line the inside and sides of a 9 inch springform pan with plastic wrap, making sure all areas are covered.
Use parchment paper to make a round sleeve around the inside of the springform pan.
Melt the container of flavored ice cream to a consistency that is able to be spread. I either let it sit out for an hour or two, or put it in the microwave in 20 second intervals.
Pour the flavored ice cream into the bottom of the pan. Freeze for 1 hour.
Remove pan from freezer. Melt hot fudge according to package directions and spread over flavored ice cream.
Remove cream from center of Oreos (I break them apart by hand and use a knife to remove the cream). Process Oreos in food processor until they turn into fine crumbles. Spread Oreos over fudge layer.
Melt the container of vanilla ice cream. Spread ice cream over Oreo layer.
Freeze for at least 4 hours.
Remove from freezer. Remove outside of springform pan. Move cake to cardboard cake round.
Use Cool Whip to frost outside of cake. Decorate with sprinkles if desired. Return cake to freezer for at 1 hour before writing on cake (gel icing works best for writing on this cake).