Scoop the vanilla ice cream into 4 equal balls and place them on a baking sheet. Freeze for at least 2 hours or until firm.
In a bowl, mix the crushed cornflakes and ground cinnamon together. Set aside.
In another bowl, whisk together the flour, egg, and milk until smooth.
Remove the ice cream balls from the freezer. Dip each ball into the flour mixture, ensuring it's fully coated.
Roll the coated ice cream balls in the cornflake mixture, pressing gently to adhere.
Return the coated ice cream balls to the freezer for another 30 minutes to firm up.
Heat the vegetable oil in a deep skillet over medium-high heat.
Carefully add the ice cream balls to the hot oil, frying for about 10-15 seconds until golden brown.
Remove the fried ice cream with a slotted spoon and drain on paper towels.
Serve immediately, drizzled with chocolate syrup, topped with whipped cream, and garnished with a maraschino cherry if desired.