Preheat oven to 350°F. Grease three 9-inch round cake pans. Set aside.

Add the flour, cocoa powder, baking soda, and salt to a large bowl and whisk until combined.

In the bowl of a stand mixer fitted with the paddle attachment, beat the butter, vegetable oil, and sugar together until smooth.

Add in the sour cream, milk, eggs, and vanilla extract and beat until smooth. Add in the red food coloring and beat until fully incorporated.

Add the dry ingredients to the wet ingredients and mix until just combined.

Divide the batter evenly among the 3 cake pans (about 634 grams per pan).

Bake for 25-30 minutes, or until a toothpick inserted in the center of the cake comes out clean. Let the cake cool for at least 10 minutes.

In the bowl of a stand mixer fitted with the whisk attachment, beat the cream cheese until smooth.

Add in the butter and beat until incorporated.

Sift in the powdered sugar through a fine-mesh sieve. Mix until well incorporated.

Add in the vanilla extract and salt and mix again until the frosting reaches a smooth and creamy consistency with stiff peaks.

For Assembly: Using a bread knife, shave off the rounded top of each cake to create a flat top. Save the cake scraps for decoration.

Place 1 cake layer on a cake stand cut side down. Spread a generous layer of frosting on top.

Add on the 2nd cake layer and spread a layer of frosting on top.

Add on the 3rd cake layer.

Frost the entire exterior of the cake with the remaining frosting.

If desired, crumble the leftover cake scraps and decorate the sides or top of the cake with them. Additionally, pipe decorations on the top of the cake with leftover frosting.