For the Cake:

1. 1. Preheat your oven to 350°F (175°C). Grease two round cake pans and line them with parchment paper.
2. 2. In a large bowl, whisk together flour, cocoa powder, baking soda, and a pinch of salt until combined.
3. 3. In another bowl, mix sugar and vegetable oil until well blended. Add eggs one at a time, beating well after each addition. Stir in buttermilk, red food coloring, and vanilla extract until smooth.
4. 4. Gradually add the dry ingredients into the wet mixture while gently mixing until just combined.
5. 5. Divide the batter evenly between the prepared pans and bake for about 25-30 minutes or until a toothpick inserted into the center comes out clean.
6. 6. Allow cakes to cool in pans for about ten minutes before transferring them to wire racks to cool completely.

For the Frosting:

1. 1. In a mixing bowl, beat together cream cheese and butter until creamy.
2. 2. Gradually add powdered sugar and vanilla extract, mixing until smooth.
3. ### Assembly:
4. 1. Once completely cooled, place one cake layer on a serving plate and spread frosting generously on top.
5. 2. Top with the second layer and frost the top and sides of the cake as desired.