When cake is completely cooled, carefully remove from pan. Cut in half horizontally. Place one half, cut side up, on serving plate. Spread with 3/4 cup fudge topping. (Do not heat topping.) Cover with 1 cup whipped topping, then half of the cherry pie filling. Place the other half of the cake over cherries, cut side down. Cover with remaining 1 cup whipped topping and remaining cherry pie filling. Refrigerate 1 hour. Just before serving, drizzle remaining 2 tablespoons fudge topping over cherry pie filling.