Place chocolate chips and oil into a tall microwave-safe cup (I use a two-cup Pyrex measuring cup).
Microwave for twenty seconds at a time (stirring in between) until all of the chocolate is melted.
Let the chocolate sit for a couple of minutes so it is still warm but not so hot that it burns you if you touch it.
Take the frosted cupcakes out of the freezer. One by one, grab the cupcakes by their wrappers, turn them upside-down, and dunk them into the cup of melted chocolate - making sure that all of the frosting gets covered. (If you listen carefully, you may be able to hear them squealing, “Wheeee!”) Let the cupcakes hover over the cup of chocolate and slowly rotate until all of the excess chocolate drips off.
Leave plain or decorate with sprinkles while still warm or melted chocolate once cooled.
Admire your work.
Store cupcakes in the refrigerator until you are ready to eat them!