Add the heavy cream, confectioners' sugar and cinnamon to a large chilled glass bowl. Mix with a hand mixer or whisk to medium peaks. Set aside in the fridge.
Whisk together the hot fudge and ancho chile powder in a pot. Heat over medium-low heat until warmed through, 3 to 5 minutes.
Add 2 tablespoons dulce de leche to the bottom of each sundae bowl and top with 3 to 4 scoops vanilla ice cream. Add 1/4 cup hot fudge sauce on top and dollop generously with the whipped cream. Garnish each with 2 churro sticks.