How to Make It
Line a 12-cup muffin pan with plastic wrap. Scoop twelve 1/4-cup balls of the ice cream into the muffin cups. Cover the ice cream with plastic and freeze until very firm, about 2 hours.
Meanwhile, in a food processor, pulse the cereal until fine crumbs form; transfer to a shallow bowl. In a second shallow bowl, using a fork, lightly beat the eggs with 1 tablespoon of the sugar.
Working with 1 ball of ice cream at a time and keeping the rest frozen, dip each ball in the beaten egg and dredge in the cereal, patting to help the crumbs adhere. Return the coated balls to the muffin pan and freeze until very firm, about 1 hour. Refrigerate the remaining beaten egg and cereal crumbs. Dip the ice cream balls a second time, first in the remaining egg and then in the cereal crumbs. Freeze until the second coating is very firm, about 1 hour.
Meanwhile, in a medium saucepan, bring 1 1/2 cups of water and the remaining 1 cup of sugar and to a boil over moderately high heat, whisking occasionally, about 5 minutes. Whisk in the cocoa, salt, cinnamon and chile powder. Reduce the heat to moderately low and simmer, stirring occasionally, until the chocolate sauce has thickened, about 2 minutes. Remove the saucepan from the heat and stir in the vanilla. Keep the sauce warm.
Line a baking sheet with paper towels. In a large saucepan, heat 1 1/2 inches of vegetable oil to 375°. Working in batches, fry the ice cream balls for 10 to 15 seconds until golden-brown. Using a slotted spoon, transfer them as they’re done to the prepared baking sheet to drain briefly. Serve immediately with the warm chocolate sauce.