Preheat oven to 325 degrees. Line cupcake pans with cupcake liners and set it aside.
In a large mixing bowl, whisk together, cake mix, all-purpose flour, granulated sugar, and salt.
Slowly, add in water, sour cream, egg whites, vegetable oil, and vanilla extract. Mix with an electric mixer until everything has been well combined. Add 3 drops of pink food gel coloring to the cupcake batter, and mix.
FUNFETTI OPTION: If desired, stir in sprinkles to the batter.
Pour or spoon batter into the lined cupcake pan. Make sure to only fill about 2/3 of the cupcake liner, since the batter will rise a bit.
Bake in preheated oven for 22 minutes or until the center is baked. Remove from oven and allow to cool on a cooling rack.
While cupcakes are cooling, prepare the frosting. With an electric mixer, mix together butter and shortening until smooth and creamy, about 3 minutes.
Add in milk and vanilla extract. Slowly, add in confectioners sugar a little at a time. If frosting is too thick you can add 1 teaspoon of milk until you have reached the texture you are looking for. Mix frosting for another 3 minutes.
Add frosting to a piping bag and pipe cupcakes, or spread with a spatula. Top with sprinkles or candy hearts.