Heat oven to 350°F. Line 13x9-inch pan with heavy-duty foil, extending foil over sides of pan. In pan, break up cookie dough. With floured fingers, press dough evenly in bottom of pan to form crust.
Bake 15 to 18 minutes or until golden brown. Cool completely, about 30 minutes.
Meanwhile, remove ice cream from freezer; place in refrigerator to soften.
Spread softened ice cream evenly over cooled crust. Top evenly with cereal; press lightly into ice cream. Place hot fudge topping in small resealable food-storage plastic bag; partially seal bag. Cut small hole in bottom corner of bag. Squeeze bag to drizzle topping over dessert. Freeze at least 1 hour or until firm before serving. Use foil to lift dessert from pan. Cut into squares.