1.Prep your pans by greasing two 9-inch round pans, lining with parchment, then greasing again. Preheat oven to 350°F.
Whisk dry ingredients including flour, baking soda, cocoa powder, and salt in a large bowl. Set aside while you work on wet ingredients.
Beat butter and sugar on medium-high speed for one minute until just combined. Add oil, egg yolks (save whites), vanilla, and vinegar, then beat on high for two minutes.
Alternate adding dry ingredients with buttermilk on low speed, mixing just until combined. Stir in red food coloring to your desired shade.
Whip egg whites separately on high speed for three minutes until fluffy peaks form. Gently fold into batter using a silicone spatula in a figure-eight motion.
Divide batter evenly between prepared pans and smooth tops. Bake for 30-32 minutes until tops spring back when touched.
Cool completely in pans on wire racks before attempting to frost. Rushing this step will melt your frosting.
Make frosting by beating cream cheese and butter until smooth, about two minutes. Add powdered sugar, vanilla, and salt, then beat on high for three minutes.
Level cake layers with a serrated knife by slicing off domed tops. Place first layer on stand, spread frosting, top with second layer.
Frost entire cake using an offset spatula and bench scraper for smooth sides. Refrigerate 30 minutes before slicing for clean cuts.