Cream cheese frosting can be frozen. However, the frosting should be measured to ensure it can adequately frost cakes or cupcakes before freezing and should be thawed completely before use. It's best not to re-freeze cream cheese frosting once it is removed from the freezer.
The frosting should be scooped into freezer bags. To ensure there is not excess air in the bags, the bags should be pressed flat before sealing. Labeling and dating the bags is ideal so the frosting can easily be identified and won't be left in the freezer for too long. Cream cheese frosting can also be stored in freezer-safe containers covered in plastic wrap to prevent freezer burn.