Grease and flour your heart shaped cake pan and bake according to the directions on the box. In the meantime, you can start on the frosting.
Cream Cheese Frosting: Red Velvet cake is even better with homemade cream cheese frosting. This is easy! Cream together 2 sticks of unsalted butter with 8 oz. of cream cheese. Add one tsp. vanilla extract and slowly incorporate a 16oz. box of confectioners sugar.
When your cake has cooled, you can turn it out from the pan and frost is completely. Have your children decorate the cake with heart shaped candies and red sprinkles.