Begin by scooping 4 generous scoops of vanilla ice cream and placing them on a baking sheet lined with plastic wrap. Freeze the scoops for at least 30 minutes or until firm.
While the ice cream is hardening, prepare the coating. In a mixing bowl, combine the crushed cornflakes, cinnamon, and sugar. Set aside.
Prepare a dredging station: have one bowl with flour, one bowl with beaten eggs, and the bowl with the cornflake mixture ready.
Take the frozen ice cream scoops from the freezer. Roll each scoop in the flour until coated, then dip it in the beaten eggs, and finally, thoroughly coat it with the cornflake mixture, pressing lightly to adhere.
Heat the vegetable oil in a deep-fryer or heavy pot to about 375°F (190°C).
Carefully place one or two coated ice cream balls into the hot oil. Fry for about 10-15 seconds until golden brown, being cautious not to over-fry.
Use a slotted spoon to remove the fried ice cream and place it on paper towels to drain excess oil.
Serve immediately, drizzled with chocolate sauce, whipped cream, or both, if desired.