Preheat oven to 350°F. Stand ice cream cones in 12 mini-muffin cups.
Prepare cake according to package directions. Fill each cone with 2 Tbsp batter. Bake 15 to 20 minutes or until a toothpick inserted into the center of a cupcake comes out clean.
Meanwhile, beat butter and vanilla on high speed 3 minutes or until light and fluffy. Gradually add powdered sugar and 2 Tbsp heavy cream, beating until smooth.
Using a small ice cream scoop, scoop 2 Tbsp of icing onto each cupcake, creating a "dome" shape. Freeze 5 to 10 minutes or until frosting is firm.
Heat 1/2 cup heavy cream in a small bowl in the microwave 1 minute or until hot. Add chocolate chips to cream, and let sit 3 to 4 minutes before stirring until smooth; spoon ganache over frosting.
Top cupcakes with sprinkles, whipped cream, and a maraschino cherry, if desired.