PLACE gelatin in blender container. Add boiling water; cover, venting lid. Blend on low speed 1 minute or until gelatin is completely dissolved.
ADD enough ice to cold water to measure 1-1/2 cups. Add to blender container along with the whipped topping; cover. Blend on medium speed until thickened and well blended. Serve immediately.
Great Substitute: Prepare as directed, using your favorite flavor JELL-O Brand Sugar Free Low Calorie Gelatin.