Place the milk, heavy whipping cream, spiced rum, powdered sugar and vanilla extract into a mixing bowl, and beat on high for 1-2 minutes. Place the mixture into the freezer while you prepare the shot glasses.

Dip the lip of each shot glass into the white cake icing, coating the rim well.

Roll the icing dipped shot glass rim into the silver or gold sprinkles.

Allow the icing to harden.

Pour the cold drink mixture into the shot glasses, and serve immediately.