Line an 8x8-inch pan with a double layer of plastic wrap, overlapping the sides. Whip heavy cream with sugar and vanilla extract.
Place 4 ice cream sandwiches side by side across top of pan. Place 2 ice cream sandwiches, halved crosswise, along the bottom to fill pan. Press together. Top with hot fudge-flavored ice cream topping. Spread on 1/2 cup of the whipped cream.
Place 4 ice cream sandwiches side by side across the pan and 2 more ice cream sandwiches, halved crosswise, along the bottom of the pan.
Freeze, covered, for at least 4 hours. Lift cake out of pan, holding onto the plastic wrap. Top with remaining whipped cream, caramel topping and raspberries. Slice into 16 pieces and enjoy.