Preheat oven to 350°F and line a muffin pan with cupcake liners.
Prepare the red velvet cake mix according to package directions.
Fill cupcake liners 2/3 full with batter and bake for 18–22 minutes. Let cool completely.
Tint frosting with red food coloring to achieve your desired shade.
Frost each cupcake evenly and use a heart-shaped cookie cutter to make a heart impression on top.
Decorate with sprinkles if desired and serve!