In a two-dimensional inviscid, incompressible, irrotational flow over a circular cylinder, the flow can be described using potential flow theory.
The velocity distribution on the surface of the cylinder is given by:
\[
V(\theta) = 2U_{\infty}\,\sin\theta
\]
The maximum value of $\sin\theta$ is 1, occurring at $\theta = 90^\circ$ and $270^\circ$. Therefore, the maximum speed on the cylinder surface becomes:
\[
V_{\max} = 2U_{\infty}
\]
Thus, the correct answer is the freestream velocity multiplied by 2, which matches option (C).