Place 1 pint of vanilla ice cream in refrigerator to soften. Line 2-quart mixing bowl with plastic wrap.
Combine 1/2 cup of wafer crumbs and 1/2 cup of syrup in a small bowl. Combine the remaining 1/4 cup each of the crumbs and syrup, and the mini-marshmallows and peanuts in another bowl.
Transfer softened vanilla ice cream to a bowl. Stir in maraschino cherries. Spoon into prepared bowl, smoothing top. Spoon wafer-syrup mixture over top, smoothing out. Place in freezer until firm.
Transfer remaining 1 pint vanilla ice cream and the 1 pint chocolate to refrigerator to soften.
When ice cream in bowl is firm, spread softened chocolate ice cream over top, smoothing level. Sprinkle with marshmallow-peanut mixture. Spread remaining vanilla ice cream over top. Cover and freeze for at least 6 hours or overnight.
Quickly dunk bowl halfway into warm water to loosen dessert. Invert onto chilled serving plate; remove bowl. Peel off plastic wrap. Top with Hot-Fudge Sauce. Garnish with maraschino cherries and fresh mint sprigs if desired. Makes 12 servings.