Line a rimmed baking sheet with waxed paper. With a large spoon or ice cream scoop, form 8 ice cream balls, each about 2 1/2 inches in diameter. Place on baking sheet, then place in freezer for about an hour.
Preheat oven to 350-degrees.
Meanwhile coat another large rimmed baking sheet with nonstick cooking spray. In a medium bowl, combine the remaining ingredients; mix well then spread on the baking sheet. Bake for 5-7 minutes, or until lightly browned and crisp.
Place in a shallow bowl and allow to cool completely. Line another rimmed baking sheet pan with waxed paper.
Remove ice cream balls from freezer and roll in the cereal mixture, coating on all sides. Place on lined baking sheet and freeze for 2 to 3 hours, or until ice cream is very firm.
Serve immediately or cover and keep frozen until ready to use.
If you would like this even lighter that it already is, reduced-fat ice cream or frozen yogurt will work just fine. The way the coating is done, the finished dessert still comes out as yummy as if it was deep-fried.