Sometimes, I buy my whipped cream frozen here. I have never had a problem with separation but I never thought to confirm whether it has gelatin in it as spiffypaws suggested.
At my bakery, we sell ice cream cakes w/ whipped cream icing. The icing is stabilized w/ gelatin, and doesn't break. These cakes are generally not defrosted completely for serving as the ice cream (obviously) would melt. A few weeks ago, I brought one home on my bike in 90F weather and threw it in my freezer; it was fine. I'm just providing you w/ this info in case you don't have time to ice the cake just prior to serving.
sdb's advice is spot on. Whipped cream if frozen will "break." Water cells will expand, then shed their water upon defrosting. Your cake will look like a Salvador Dali painting. As sdb says, freeze the cake and ice with WC before serving.
I don't think that the whipped cream frosting would hold up in the freezer, it may end up getting runny when it defrosts. I would freeze the cake and ice cream and frost with the whipped cream before serving. Truth be told I have never frozen whipped cream icing but it seems that it could possibly produce undesirable results.
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