Preheat the oven to 350°F (175°C). Grease two 9-inch round cake pans and line the bottoms with parchment paper.
In a large bowl, whisk together the cake flour, granulated sugar, baking soda, cocoa powder, and salt.
In another bowl, whisk together the eggs, vegetable oil, buttermilk, red food coloring, vanilla extract, and white distilled vinegar.
Pour the wet ingredients into the dry ingredients and mix just until smooth.
Divide the batter evenly between the prepared cake pans.
Bake for 25–30 minutes, or until a toothpick inserted into the center comes out clean or with a few moist crumbs.
Let the cakes cool in the pans for 10–15 minutes, then transfer to a wire rack to cool completely.
Beat the softened cream cheese and butter together until smooth and creamy.
Add the vanilla extract and powdered sugar. Beat until the frosting is smooth and spreadable.
Place one cooled cake layer on a cake plate. Spread cream cheese frosting over the top.
Add the second cake layer and frost the top and sides of the cake.
Decorate with red velvet cake crumbs if desired.
Chill briefly before slicing for cleaner pieces.