1. Butter bottom and sides of 9-inch pie plate; line with vanilla wafers. Spoon half of ice cream into prepared pie plate. Sprinkle 3/4 cup toffee bits over ice cream. Spoon in remaining ice cream. Cover; freeze until firm, 4 to 6 hours.
2. Prepare sauce by combining sugar, light cream, butter and corn syrup in medium saucepan. Cook over low heat, stirring constantly, until mixture boils; boil and stir 1 minute. Remove from heat; stir in remaining 1 cup toffee bits. Cool, stirring occasionally (sauce will thicken as it cools).
3. Serve wedges of pie with sauce. Cover; store leftover pie in freezer. Cover; store leftover sauce in refrigerator.
BRICKLE ICE CREAM SUNDAES: Place scoops of ice cream in individual dessert dishes; spoon toffee sauce over top. Garnish with whipped topping and toffee bits.
Makes 6 to 8 servings.