Heat oven to 350°F. Place paper baking cups in 24 regular-size muffin cups. In large bowl, beat cake mix, soda pop, oil and egg whites on low speed 30 seconds. Beat 2 minutes on medium speed, scraping bowl occasionally. Fill each cup 2/3 full of batter. Bake 15 to 20 minutes or until toothpick inserted in center comes out clean. Remove from pan to wire rack. Cool completely, about 20 minutes.
Stir frosting in container 20 times. Stir in 1 to 2 drops red food color. Frost cupcakes.
Place sprinkles and 1 drop red food color in small resealable plastic food-storage bag; seal bag. Gently shake and massage sprinkles until mixture is various shades of pink; sprinkle around edges of frosted cupcakes.