Freezing layers: Freeze the unfrosted until you're ready to frost. Wrap each cooled layer well in plastic wrap and slide the layers in freezer bags to prevent freezer burn. Set the frozen layers on a cooling rack at room temperature for about 1- 1.5 hours to defrost before frosting as normal. Or frost while frozen, then let it cool at room temperature for 1.5-2 hours before slicing. The frosting will firm up quickly, which makes it super easy to get a smooth frosting look, but more difficult to add sprinkles to the outside.
Storing frosted: You can freeze the cake whole or sliced. Place the whole cake in the freezer for 1 hour until the outside is completely firm before wrapping it well in plastic wrap. Store it like this for up to 4 days, letting it sit at room temperature for 3 hours before slicing and serving. Alternatively, store any leftover slices in an airtight container in the freezer for up to 2 months. Let sit at room temperature for 30 minutes before eating.