If the site is hosted by IPS (meaning it's on the IPS cloud), Cloudfront is already setup by IPS and there is nothing you need to do. It literally is already done.
If you're self-hosted, rather than do Cloudfront, I would suggest looking at Cloudflare. You'll find it a MUCH MUCH easier integration. Otherwise you're going to have to do a BUNCH of work, including potentially needing to setup SSL certificates, defending S3 buckets, configuring what content should be stored on S3, etc. That's even before you get to the Cloudfront setup and figuring out your CORS settings and how long each type of content should be cached for.
If you need a CDN, integration of Cloudflare will be a 1000% easier. (Note... anything custom you do such as adding a CDN, be it Cloudfront or Cloudflare is not officially supported by IPS. So you might need to disable it for troubleshooting problems you might have as IPS does not troubleshoot your custom configurations.)