Make the crust: Line a 13x9 inch pan with foil, wax paper or parchment paper (you want it to hang over the sides because you'll be lifting the whole dessert out of the pan after you make it). In a medium bowl, combine the Honeycomb cereal crumbs, butter and sugar. Press the crumb mixture into the bottom of the lined pan. Place the pan in the refrigerator while you make the filling.
Make the filling: In a large bowl, use an electric mixer to combine the cream cheese, sugar and vanilla until creamy. Add the whipped topping and mix that in too. Stir in the chocolate chips. Spoon the filling mixture over the firmed-up crust and CAREFULLY spread it to the sides to make an even layer. Refrigerate for at least a couple of hours or until fairly firm.
For serving: Top with a drizzle of hot fudge and a few marshmallows. If you want the marshmallows toasted (totally optional), just place the serving plates under a pre-heated broiler for 30 seconds to 1 minute. Eat!