Preheat oven to 350℉ (176℃). Line two muffin tins with cupcake liners, for 24 cupcakes.
In a large mixing bowl, stir together 2 cups all-purpose flour, 2 cups granulated sugar, 1/3 cup cornstarch, 2 tablespoons unsweetened cocoa powder, 2 teaspoons baking soda, 1 teaspoon baking powder, and 1 teaspoon salt until combined and there are no streaks.
Add 3 large eggs, 1 cup buttermilk, 2/3 cup warm water, 1/3 cup vegetable oil, 1 teaspoon vanilla extract, 1 teaspoon distilled white vinegar, and 2 tablespoons red food coloring. Use a hand mixer to beat on a medium speed until smooth, about 2 minutes. Use a rubber spatula to scrape the sides and bottom of the mixing bowl to make sure everything got mixed in.
Use a spoon to fill each cupcake liner 2/3 full.
Bake in the center rack of the preheated 350℉ oven for 20 to 22 minutes until a toothpick inserted into the center comes out clean. Remove from tins and place on a wire rack to cool completely.
Ermine Icing
In a medium saucepan, whisk together 2 cups granulated sugar, 1/2 cup all-purpose flour, and pinch salt over low heat. Cook for 2 minutes, while whisking constantly. Slowly whisk in 2 cups whole milk and bring to a boil over medium-high heat.
Cook until thickened into a pudding-like consistency, about 1 minute, and then remove from heat.
Pour into a bowl and place plastic wrap directly on top of the mixture so no skin forms. Refrigerate until completely cool, about 2 hours.
In a separate large mixing bowl, use a hand mixer to whip 2 cups unsalted butter until light and fluffy, about 2 minutes. Spoon the cooked milk mixture into the butter 1 to 2 tablespoons at a time, mixing well with the hand mixer between each addition. Once all the milk mixture has been added in, beat in 1 teaspoon vanilla extract and continue beating until the frosting is thick and creamy and everything is well mixed, about 2 minutes.
Frost completely cooled cupcakes.
Video
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Notes
COLOR NOTE: If you want a brighter red color, use only 2 tablespoons of cocoa powder. If you want a better flavor, use up to 1/4 cup. You'll simply have much deeper brown notes to your red cake.