Heat oven to 350 degrees. Invert regular-size muffin pan; spray outside of 5 random muffin cups with cooking spray. (Leave space between sprayed cups so caramel roll cups do not stick together during baking.)
Set caramel icing aside. Separate dough into 5 rolls; place each roll on sprayed muffin cup. Press around inverted cup to cover cup completely.
Bake about 25 minutes or until golden brown. Cool baked cups on pan about 20 minutes or until completely cooled.
To assemble sundaes, place baked cups on individual dessert plates. Fill each with 2 to 3 scoops ice cream (about 1/4 cup per scoop). Top each serving with cherry. Drizzle each with caramel icing. Sprinkle 1 teaspoon cacao nibs over each.