Preheat oven to 350°F (175°C). Line a muffin tin with cupcake liners.

In a medium bowl, whisk together flour, baking powder, and salt. Set aside.

In a large bowl, beat softened butter and sugar until light and fluffy, about 3 minutes.

Add eggs one at a time, beating well after each addition. Mix in vanilla extract.

Alternately add the flour mixture and milk, beginning and ending with the flour mixture. Mix until just combined.

Divide batter evenly among cupcake liners, filling each about 2/3 full. Bake for 18-20 minutes or until a toothpick inserted comes out clean.

Let cupcakes cool in the pan for 5 minutes, then transfer to a wire rack to cool completely.

For the frosting: Beat softened butter until creamy. Gradually add powdered sugar, then mix in heavy cream and vanilla extract until smooth and fluffy.

Add red food coloring a few drops at a time until desired pink color is achieved.

Pipe frosting onto cooled cupcakes and decorate with heart-shaped sprinkles.