Step 1 Preheat oven to 180C/160C fan-forced. Line 16 holes of 2 x 12-hole (1/3-cup-capacity) muffin pans with paper cases.
Step 2 Using an electric mixer, beat our, baking powder, bicarbonate of soda, sugar, cocoa, oil, eggs and milk together on low speed for 1 minute or until just combined. Increase speed to high. Beat for 2 minutes or until well combined. Gradually beat in hot water.
Step 3 Divide mixture evenly among prepared holes. Bake for 12 to 15 minutes or until cakes spring back when touched. Stand in pans for 1 minute. Transfer to a wire rack to cool completely.
Step 4 Make Vanilla malt cream: Using an electric mixer, beat cream, icing sugar and milk powder together until just-firm peaks. Cover. Refrigerate until required.
Step 5 Make Strawberry frosting: Using an electric mixer, beat butter for 5 minutes or until light and uffy. Gradually beat in icing sugar, 1 tablespoon at a time, beating until dissolved after each addition. Add Nesquik. Beat until well combined. Beat in milk.
Step 6 Cut a 1cm circle out of the centre of each cupcake and discard. Spoon cream mixture into a piping bag fitted with a 1cm plain nozzle. Pipe into centre of cakes. Spoon frosting into a piping bag fitted with a 1cm-fluted nozzle. Pipe onto the top of each cake. Top with wafers and sprinkles. Serve.