Preheat oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.

In a large bowl, whisk together the flour, sugar, cocoa powder, baking soda, and salt.

In a separate bowl, whisk together the buttermilk, oil, eggs, vanilla extract, white vinegar, and red food coloring until well combined.

Pour the wet ingredients into the dry ingredients and mix until just combined. Do not overmix.

Divide the batter evenly between the prepared cake pans.

Bake for 30-35 minutes, or until a wooden skewer inserted into the center comes out clean.

Let the cakes cool in the pans for 10 minutes before inverting them onto a wire rack to cool completely.

In a large bowl, beat the softened cream cheese and butter together until smooth and creamy.

Gradually add the powdered sugar, beating until well combined and smooth. Add vanilla extract and milk/cream, and beat until the frosting reaches the desired consistency.

Once the cakes are completely cool, place one layer on a serving plate. Spread a generous amount of frosting over the top.

Place the second cake layer on top and frost the entire cake with the remaining frosting.

Decorate as desired.