Combine 2 cups wafer crumbs and butter in 13x9-inch dish; press onto bottom of dish.
Mix cream cheese and sugar in medium bowl until blended. Gently stir in half the COOL WHIP; spread over crust.
Add boiling water to gelatin mix in separate medium bowl; stir 2 min. until completely dissolved.
Add enough ice cubes to cold water to measure 2 cups; stir into gelatin until ice is melted. Refrigerate 5 min. or until gelatin is slightly thickened. Spoon over cream cheese layer.
Refrigerate 3 hours or until firm. Just before serving, spread remaining COOL WHIP over dessert.
Sprinkle with wafer crumbs and sprinkles to resemble sand and water.