In a large measuring cup with a pouring spout, add the pomegranate juice and chocolate syrup. Stir together until incorporated.
For the Float:
In serving glasses, add the ice cream.
Pour the red velvet mixture as close to the inside edge of the glass as possible so that the scoops of ice cream are still showing (if the glasses are similar to the shape of a martini glass).
Top with whipped cream or Cool Whip topping and garnish with candy sprinkles. Serve right away.