Let the summertime fun begin!
Heat oven to 350°F. Prepare cupcake pans with baking spray or cupcake liners. (This recipe yielded 15 cupcakes for me.)
In stand mixer with paddle attachment, cream together room temperature butter and sugar on medium high until light and fluffy. Reduce speed to low and add in eggs, one at a time and mix until just blended.
Add in vanilla, 2 tablespoons of lime juice and milk and mix for about 30 seconds on low. Slowly add in dry ingredients and mix until just combined.
Divide batter evenly among prepared muffin cups. Transfer muffin tin to oven and bake until tops are just dry to the touch, 18 to 20 minutes.
Transfer cupcakes to a cooling rack.
In a standing mixer fitted with a whisk, mix together sugar and butter. Mix on low speed until well blended and then increase speed to medium and beat for another 3 minutes.
Add almond flavoring and cherry juice continue to beat on medium speed for 1 minute more, adding more juice if needed for spreading consistency