Place sprinkles on a plate then dip the rim of your glass into the warm hot fudge and dip into sprinkles.
In a blender add the ice cream, cake mix, milk, and extract.
Blend until smooth.
Pour into glasses and top with whipped cream and additional sprinkles if desired.
Notes
Store leftovers in a freezer-safe cup, preferably with a lid, and keep it in the freezer for about a week. Let it thaw enough to mix, or reblend. You can also make red velvet milkshake popsicles.