Preheat oven to 350 degrees and grease a 9" round cake pan or springform pan.
In a large bowl cream the butter and sugars together on medium speed until fluffy and light in color. Mix in eggs and vanilla until combined.
Add the flour, baking soda and salt. On low speed, slowly mix into the wet ingredients. Stir in chocolate chips.
Press dough into prepared pan and bake for 18-23 minutes or until the edges just start to turn brown and center is set but still soft. Let cookie cool completely in pan.
FOR THE FROSTING:
In a large bowl, cream together the butter, and vanilla. Blend in the sugar, one cup at a time, beating well after each addition. Beat in the milk, 1 tablespoon at a time until desired consistency is met (you might not need it all). Continue mixing until light and fluffy. Keep icing covered until ready to decorate. Using a large star tip decorate the cooled cookie cake. Add sprinkles and extra chocolate chips if desired. Store and serve at room temperature.