In a large bowl, beat the first eight ingredients until well blended. Combine the flour, baking powder, baking soda and salt; gradually beat into egg mixture until blended.
Fill paper-lined muffin cups three-fourths full. Bake at 350° for 18-22 minutes or until a toothpick inserted in the center comes out clean. Cool for 10 minutes before removing from pans to wire racks to cool completely.
In a large bowl, beat butter until fluffy; beat in confectioners’ sugar and extracts until smooth. Add marshmallow creme; beat until light and fluffy. Using a melon scoop, remove a small amount of cake from tops of cupcakes. Top each with a small scoop of ice cream. Decorate with frosting and orange peel strips. Serve immediately.