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. Add the oil, egg yolks, vanilla extract, and vinegar and beat on high for 2 minutes.

With the mixer on low speed, add the dry ingredients in 2-3 additions alternating with the buttermilk. Add food coloring just until combined. Whisk or beat the egg whites on high speed until fluffy peaks form. Gently fold into cake batter.

Divide batter between cake pans. Bake for 30-32 minutes or until a toothpick inserted in the center comes out clean. Cool completely in the pans on a wire rack.

In a large bowl, beat the cream cheese and butter together until smooth. Add confectioners’ sugar, vanilla extract, and a pinch of salt. Beat until creamy.

Slice a thin layer off the tops of the cakes to create a flat surface. Place 1 cake layer on your cake stand, cover the top with frosting, add the 2nd layer, and spread remaining frosting on top and sides.

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

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