01 - Preheat the oven to 350°F. Grease and line an 8x8-inch baking pan with parchment paper. In a large bowl, whisk together the flour, sugar, cocoa powder, baking soda, and salt. In a separate bowl, combine the buttermilk, softened butter, eggs, vanilla extract, and red food coloring until well blended. Pour the wet mixture into the dry ingredients and stir until a smooth batter forms. Transfer the batter to the prepared pan and bake for 18 to 20 minutes, or until a toothpick inserted in the center comes out clean. Allow the cake to cool completely in the pan.
02 - In a medium bowl, beat the softened cream cheese with powdered sugar and vanilla extract using an electric mixer until smooth and creamy. If the mixture feels too soft to handle, refrigerate for about 15 minutes to firm it up.
03 - Crumble the cooled red velvet cake into a large bowl. Add the cheesecake filling and mix thoroughly until a uniform dough forms. Roll the mixture into 1-inch balls and arrange them on a parchment-lined baking sheet. Place the baking sheet in the freezer for at least 1 hour, or until the balls are firm enough to coat.
04 - Melt the chocolate in a microwave-safe bowl in 20-second intervals, stirring between each interval, until completely smooth. Using a fork or dipping tool, submerge each frozen cake ball into the melted chocolate, turning to coat evenly. Lift out gently, tap off the excess chocolate, and place back onto the parchment paper. Add sprinkles immediately if using, before the chocolate begins to set.
05 - Allow the chocolate coating to harden at room temperature, or refrigerate briefly until fully set. Serve chilled or at room temperature.