Lightly spray a 6-cavity doughnut pan with cooking spray. Coat your hands in cooking spray as and press some crispy rice treat mixture into a greased cavity in the doughnut pan. Repeat until the pan is filled.
Remove the crispy treat doughnuts from the pan using a fork; transfer to a parchment-lined baking sheet. Put the pink candy wafers in a microwave-safe bowl and heat in 30-second intervals, stirring between each, until melted and smooth. Spoon the melted candy over the doughnuts and immediately top with sprinkles. Let stand until set, about 15 minutes.