1 pkg. dark chocolate cake mix
3/4 c. milk
1/3 c. oil
3 eggs
2 c. powdered sugar
1/2 c. butter
13 oz. can evaporated milk
6 oz. pkg. semi-sweet chocolate chips
1 tsp. vanilla
3/4 c. malted milk powder
1 qt. (4 c.) chocolate ice cream, slightly softened
To prepare cake: Grease and flour 2 (13 x 9 inch) pans. In large bowl combine all cake ingredients until moistened; beat 2 minutes at highest speed. Pour 1/2 batter into each pan. Bake at 350 degrees for 14 to 17 minutes. Do not overbake. Cool and remove 1 can from pan.
To prepare topping: In medium size heavy saucepan, combine ingredients for topping except vanilla. Cook over medium low heat until mixture comes to a boil; stirring occasionally. Cook 8 minutes stirring constantly. Remove from heat, stir in vanilla. Cool 1 hour without stirring.
To assemble cake: In large bowl combine malt powder and ice cream. Spread over cooled cake in cake pan. Place remaining cake layer over ice cream. Spread fudge topping over top. Cover; freeze.
To serve: Thaw slightly; cut into squares and top with whip cream and a cherry.