Preheat the oven to 350F. Line a muffin tin with cupcake liners.
In a medium bowl, whisk together the flour, baking powder, and salt.
In another bowl, beat butter and sugar on medium-high speed 5 minutes until fluffy.
Add eggs one at a time, beating well with each addition. Add the vanilla and beat to combine.
Add the flour mixture in thirds alternating with the milk, mixing to incorporate with each addition. Add the food coloring, whisk until incorporated.
Pour the batter into muffin tin, filling 2/3 of the way up.
Bake for 15 minutes or until a toothpick inserted in the center comes out clean. Let them for 5 minutes, then transfer to a wire rack and cool to room temperature before frosting.
For the frosting, in a large mixing bowl, whip the cold heavy cream on high speed (1-2 minutes) until thick and fluffy.
In a second large bowl, beat cream cheese and confectioner’s sugar. Start on low speed, then beat on high speed for 2 minutes until creamy. Then beat in 1 teaspoon vanilla extract.
Use a spatula to gently fold the whipped cream into the cream cheese mix until well blended.
Pipe the frosting onto cooled cupcakes and top with sugar sprinkles. Enjoy!