Heat oven to 350° (325° for dark or nonstick pan). Place paper baking cup in each of 24 regular size muffin cups.

In large bowl, mix dry cake mix and champagne. Add oil, egg whites and food color. Beat with electric mixer on medium speed 2 minutes. Divide batter evenly among muffin cups.

Bake 17 to 22 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pan to cooling rack. Cool completely, about 30 minutes.

In medium bowl, beat frosting ingredients with electric mixer on medium speed until smooth. Frost cupcakes. Sprinkle with garnishes. Store loosely covered.