Preheat oven to 350°F (177°C). Grease two 9-inch cake pans, line with parchment paper rounds, then grease the parchment paper.

Whisk the flour, baking soda, cocoa powder, and salt together in a large bowl. Set aside.

Using a handheld or stand mixer, beat the butter and sugar together on medium-high speed until combined, about 1 minute.

Add the oil, egg yolks, vanilla extract, and vinegar and beat on high for 2 minutes. Scrape down the sides of the bowl.

With the mixer on low speed, add the dry ingredients alternating with the buttermilk. Add desired amount of food coloring.

Vigorously whisk or beat the egg whites on high speed until fluffy peaks form, then gently fold into the cake batter.

Divide batter between cake pans. Bake for 30-32 minutes or until the tops spring back when gently touched.

Remove cakes from the oven and cool completely in the pans set on a wire rack.

In a large bowl, beat the cream cheese and butter together on medium-high speed until smooth, about 2 minutes.

Add the confectioners’ sugar, vanilla extract, and a pinch of salt. Beat on low speed for 30 seconds, then increase to high speed and beat for 3 minutes.

Slice a thin layer off the tops of the cakes to create a flat surface. Place 1 cake layer on your cake stand and cover the top with frosting.

Top with the 2nd layer and spread remaining frosting all over the top and sides.

Refrigerate cake for at least 30-60 minutes before slicing to help it hold its shape.

Cover leftover cake tightly and store in the refrigerator for 5 days. Frosted or unfrosted layers can be frozen up to 2-3 months.