$\DeclareMathOperator{\Ext}{Ext}$
$\DeclareMathOperator{\Hom}{Hom}$
$\newcommand{\Zp}{{\mathbb{Z}_p}}$
$\newcommand{\Qp}{{\mathbb{Q}_p}}$
$\newcommand{\div}{\mathrm{div}}$
$\newcommand{\tor}{\mathrm{tor}}$
Still not a complete answer, but here's some more progress, I think. Let $B$ be a direct sum of cyclic abelian $p$-groups. All $\Hom$'s, $\Ext$'s, $\otimes$'s, etc. are over $\Zp$.
Theorem 1: $\Ext(\Qp, B) \cong \Hom(\Qp, \hat B / B) \cong \Qp \otimes \widehat{\Zp^{(I)}} \oplus \Qp^{(J)}$ where
Here $\hat B = \varprojlim_k B/p^k$ denotes the $p$-completion of $B$, $(-)^\tor$ denotes the torsion subgroup, and $[p]$ denotes the kernel of multiplication by $p$.
We can be more concrete about this. Write $B'$ for the corresponding product of cyclic groups, i.e. if $B = \oplus_k (\Zp/p^k)^{(I_k)}$, then $B' = \prod_k (\Zp/p^k)^{I_k}$. Then we have
Proposition 2: The natural inclusion $B \to B'$ factors through $\hat B$, and
$B = \{(x_{k,i}) \in B' \mid x_{k,i} \to 0\}$
$\hat B = \{(x_{k,i}) \in B' \mid v_p(x_{k,i}) \to \infty\}$
$(\hat B / B)[p] = \{(x_{k,i}) \in \hat B \mid k - v_p(x_{k,i}) \text{ is bounded by }1\} / B[p]$
$(\hat B / B)^\tor = \{(x_{k,i}) \in \hat B \mid k - v_p(x_{k,i}) \text{ is bounded}\} / B$
In particular, the maps $B \to \hat B$ and $\hat B \to B'$ are monic. Moreover, $\hat B / B$ is divisible.
Here, $x_{k,i} \to 0$ means that $x_{k,i} = 0$ for all but finitely many $(k,i)$. Similarly, $v_p(x_{k,i}) \to \infty$ means that for each $n \in \mathbb N$, $v_p(x_{k,i}) \geq n$ for all but finitely many $(k,i)$, where $v_p$ is the $p$-adic valuation.
Proof: Straightforward.
Lemma 3: $\Ext(\Qp,\hat B) = 0$.
Proof: The short exact sequence $0 \to \hat B \to B' \to B'/\hat B \to 0$ yields an exact sequence $\Hom(\Qp, B' / \hat B) \to \Ext(\Qp,\hat B) \to \Ext(\Qp,B')$. The last term vanishes because $\Ext(\Qp,\Zp/p^k) = 0$ and $\Ext(\Qp,-)$ commutes with products. To see that the first term vanishes, it suffices to show that the divisible part of $B'/\hat B$ is zero, which can be done using the explicit descriptions of Proposition 2.
Lemma 4:
If $D$ is a divisible $\Zp$-module, then $D \cong D^\tor \oplus D/D^\tor$. Moreover, $D^\tor \cong (\mathbb Z/p^\infty)^{(I)}$ where $I = \dim_{\mathbb F_p} D[p]$, while $D/D^\tor$ is a $\Qp$-vector space.
$\Hom(\mathbb Z/p^\infty, (\mathbb Z/p^\infty)^{(I)}) \cong \widehat{\Zp^{(I)}}$ and $\Hom(\Qp, (\mathbb Z/p^\infty)^{(I)}) \cong \Qp \otimes \widehat{\Zp^{(I)}}$
Proof: The first bullet is clear. For the second, use the expression $\mathbb Z / p^\infty = \varinjlim_k \mathbb Z/p^k$, which is carried to a $\varprojlim$ by $\Hom$. Then observe that every homomorphism $\Qp \to (\mathbb Z/p^\infty)^{(I)}$ descends to $\mathbb Z / p^\infty \to (\mathbb Z/ p^\infty)^{(I)}$ after multiplication by some power of $p$.
Proof of Theorem 1: The short exact sequence $0 \to B \to \hat B \to \hat B / B \to 0$ induces an exact sequence $\Hom(\Qp,\hat B) \to \Hom(\Qp,\hat B / B) \to \Ext(\Qp,B) \to \Ext(\Qp,\hat B)$. The last term vanishes by Lemma 3. To see that the first term vanishes, it suffices to observe that the divisible part of $\hat B$ is zero, which is obvious from the description of Proposition 2. So the middle map is an isomorphism. This establishes the first isomorphism of Theorem 1. The second follows from Lemma 4 and the divisibility of $\hat B / B$.
Dimension count: Recall that we are considering $B = \oplus_k (\mathbb Z / p^k)^{(I_k)}$, where we are assuming the torsion is not bounded, i.e. there are infinitely many $k$ with $I_k \neq 0$.
$(\hat B / B)[p]$ is infinite-dimensional, so its $\mathbb F_p$-dimension is the same as its cardinality, which is clearly $I = \max(2^{\aleph_0}, \inf_n \prod_{k \geq n \mid I_k \geq \aleph_0} I_k)$. In particular, $(\hat B / B)[p]$ is at least continuum-dimensional. Therefore, $\Qp \otimes \widehat{\Zp^{(I)}}$ has dimension at least the continuum, and so its dimension is the same as its cardinality, which is the same as the cardinality of $\widehat{\Zp^{(I)}} = \varprojlim_k (\mathbb Z / p^k)^{(I)}$. To choose an element of this set, we first choose an element of $(\mathbb Z / p)^{(I)}$ ($I$ many choices), then we choose an element of $(p\mathbb Z / p^2)^{(I)}$ ($I$ many choices), and so forth, for a total cardinality of $I^{\aleph_0}$. Thus $\dim_{Qp}(\Qp \otimes \widehat{\Zp^{(I)}}) = I^{\aleph_0} \max(2^{\aleph_0}, \inf_n \prod_{k \geq n \mid I_k \geq \aleph_0} I_k^{\aleph_0})$.
A similar calculation shows that $J = I$.
Thus $\dim_\Qp(\Ext(\mathbb Z / p^\infty, B)) = I^{\aleph_0} = \max(2^{\aleph_0}, \inf_n \prod_{k \geq n \mid I_k \geq \aleph_0} I_k^{\aleph_0})$.