Step 1: Preheat oven to 350ºF. Place a paper baking cup in each of 24 regular-size muffin cups.
Step 2: In large bowl, combine dry cake mix and champagne. Add oil, eggs and food color. Beat with electric mixer on medium speed for 2 minutes. Divide batter evenly among muffin cups.
Step 3: Bake 17 to 22 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove from pan to cooling rack. Cool completely.
Step 4: In medium bowl, beat frosting ingredients with electric mixer on medium speed until smooth. Frost cupcakes. Sprinkle with pink sugar and pearls.
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