Position a rack in the center of the oven and preheat the oven to 350 degrees F. Line a 12-cup muffin tin with paper liners and set aside.
In a bowl of an electric mixer set on medium speed, lightly beat the eggs. Add the buttermilk, vinegar, oil, food coloring and vanilla, beating until well-combined. Slowly add the dry ingredients, mixing until combined. Pour the batter into the prepared muffin cups, filling each cup about 2/3 full.
Bake for 25 to 35 minutes, or until a wooden skewer inserted near the center of a cupcake comes out clean. Remove the tin from the oven and cool on a wire rack for 10 minutes. Turn the cupcakes out of the tin, and place them on the wire rack to cool completely.
In the bowl of an electric mixer set on medium-high speed, cream the cream cheese and butter. Reduce the speed to low, and gradually beat in the confectioners’ sugar, until the mixture is fluffy. Beat in the vanilla.
Spread a few spoonfuls of frosting on top of each completely cooled cupcake