I have an EC2 instance running with security group, IAM, firewall and all needed software running in my production environment. Is there a way for me to generate a template that I can use in Cloud Formation in order to roll out new instances with the same configuration. Thank you.
Yes,
CloudFormer is the CloudFormation template generator that can get information about your existing AWS infrastructure and transform it to CloudFormation template.
http://docs.aws.amazon.com/AWSCloudFormation/latest/UserGuide/cfn-using-cloudformer.html