Combine flour, cake mix, baking powder, sugar and salt in a bowl and mix. Add 1 cup of milk, egg and vanilla extract and stir until smooth. You want the batter to look like regular pancake batter; not too thin, not too thick. This will vary greatly on the brand of cake mix you use. Start with 1 cup of milk and add more if needed. I suggest a small taste test as well to see if the pancakes are flavored enough.
Preheat a skillet on medium heat (I use an electric grilled and turn it to 250 degrees). Fold desired amount of sprinkles into batter. Pour batter in 1/4 cup measurements onto skillet and let cook until bubbles form on top, about 2-3 minutes. Flip and cook for 1 minute more. Serve with vanilla glaze.
Mix milk, extract and powdered sugar until glaze forms. You may need to add a little more sugar or water/milk to reach desired consistency. Mix into glaze and drizzle on pancakes.