Preheat oven to 350. Line a 12 cup muffin pan with paper or foil liners. Whisk the flour cocoa powder, baking soda and salt in a medium bowl. In a large bowl combine the vegetable oil, milk and the egg. Whisk in the sugar, vinegar, food coloring and both extracts. Whisk the dry ingredients into the wet.

Divide the batter among the prepared muffin cups. Bake until the tops spring back when pressed. 20 to 25 mins. Transfer to a rack and let cool completely.

Meanwhile beat the butter and icing sugar with a mixer on low speed. Beat in both extracts until creamy. Add the milk and mix until fluffy.

Spread or pipe the frosting on the cupcakes. Sprinkle with red sprinkles.