"This is a true Southern tasting Red Velvet Cake - not too much chocolate flavor, a rich red color, and a velvety texture. Just what I remember when I was a kid. But easier, because it uses a cake mix, with a few additions to give it the signature "red velvet" character."
Preheat oven to 350 degrees (or 325 degrees for dark/nonstick pans). Grease and flour 2 9-inch round cake pans.
In a large bowl, add the eggs, buttermilk, oil, food coloring and vinegar and mix for a few seconds with an electric mixer until blended. Add the cake mix, cocoa powder and baking soda and mix for 2 minutes with an electric mixer, on medium. Divide cake batter evenly between the two pans.
Bake as directed on cake mix box for 2 9-inch round pans.
When cake is done, allow to cool in pans on baking rack for 10 minutes, then gently remove from pans.
For the cream cheese frosting, mix all frosting ingredients in large bowl with electric mixer for 2 minutes until well blended.