Line an 8-inch round cake pan with plastic wrap, allowing the excess to drape over the sides.
Scoop about 6 large scoops of strawberry ice cream into the pan, flattening it into an even layer with a silicone spatula.
Scoop about 6 large scoops of vanilla ice cream into the pan, flattening it into an even layer with a silicone spatula.
Pull the excess plastic wrap up and over the ice cream, and freeze until hard.
Place the cake on a serving platter and spread a thick layer of the hot fudge sauce over the top.
Layer the Oreos over the hot fudge.
Use the excess plastic wrap to pull the ice cream layer out of its cake pan, unwrap it, and place it on top of the Oreo layer.
Frost the top and sides of the cake with whipped cream frosting.
Drizzle hot fudge sauce along the top edge, allowing it to drip down the sides.
Pipe a shell border of whipped cream frosting around the bottom edge of the cake, and garnish with sprinkles.
Pipe 16 tall swirls of whipped cream frosting around the top edge of the cake, garnish with sprinkles, and top with maraschino cherries.
Freeze the cake until just before serving.