Whisk together dry ingredients in a medium bowl. Set aside.
Melt butter and whisk in sugar until completely dissolved. Cool slightly.
In a larger bowl, add the wet ingredients, the butter/sugar mixture and the flour mixture. Stir just until combined.
Using a spoon (or piping bag), divide evenly in your doughnut pan. I did spray mine with cooking spray even though it was a non stick pan just for a bit of extra insurance.
Bake at 350 degrees for about 10 minutes or until a toothpick inserted comes out clean. Cool on a wire rack for 10-15 minutes, then remove to cool completely.
In a bowl over a pan with a small amount of water brought to a simmer (double boiler), add chocolate chips, butter and milk. Heating over very low heat, stir until melted. Remove from heat and allow to cool for a few minutes. It should be thin enough for dunking but thick enough to hold on the doughnuts without oozing off.
Dip into the chocolate glaze and immediately into sprinkles. Place onto the lined baking sheet to set up. Store in a cool place.