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.
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, about 30 minutes.
In medium bowl, beat frosting ingredients with electric mixer on medium speed until smooth. Frost cupcakes. Sprinkle with pink sugar and pearls.
Make the Most of This Recipe With Tips From The Betty Crocker® Kitchens
Champagne is a sparkling wine, and while many expensive champagnes are available, this is one time you might choose less expensive champagne. Have the champagne at room temperature when preparing the cake.