Preheat your oven to 350°F (175°C) and grease two 9-inch round cake pans.
In a large bowl, sift together the flour, cocoa powder, baking soda, and salt.
In another bowl, mix the oil, sugar, and eggs until well combined.
Add the buttermilk, red food coloring, vanilla extract, and vinegar to the wet ingredients.
Gradually incorporate the dry ingredients into the wet mixture, mixing until smooth.
Divide the batter evenly between the prepared pans.
Bake for 30-35 minutes, or until a toothpick inserted in the center comes out clean.
Allow the cakes to cool in the pans for 10 minutes before transferring them to a wire rack.
For the frosting, beat the cream cheese and butter together until creamy.
Add powdered sugar and vanilla extract, mixing until smooth.
Once the cakes are completely cool, frost between the layers and on top.