Prepare cake batter as directed on package; stir in 2 Tbsp. sprinkles. Cover tops of 2 mini muffin pans with foil, pressing edges of foil around edges of pans to secure. Use sharp knife to poke small hole in foil over center of each muffin cup.
Place bottom of 1 ice cream cone over each hole, then carefully press cone through foil so cone stands upright in muffin cup. Spoon cake batter into cones, filling each about 3/4 full.
Bake 12 to 15 min. or until toothpick inserted in centers of cupcakes comes out clean. Cool completely.
Spoon frosting into medium bowl.
Add COOL WHIP; whisk until blended. Spoon into resealable plastic bag; cut off one bottom corner of bag. Use to pipe COOL WHIP mixture onto cupcakes to resemble swirled ice cream. Top with remaining sprinkles.
