Preheat oven to 325°F. Line a 10×15-inch jelly roll pan (a rimmed baking sheet with 1-inch sides) with parchment paper, making sure the paper comes up the sides. Spray the parchment with nonstick cooking spray and set aside.
In a large bowl, whisk together the flour, sugar, baking soda, baking powder, cocoa powder, and kosher salt.
In a medium bowl, whisk together the mayonnaise, eggs, buttermilk, vanilla extract, red gel food coloring, hot water, and vinegar until smooth.
Slowly add the wet ingredients to the dry ingredients, stirring with a spatula or spoon until just combined and no dry streaks remain. Do not overmix.
Pour the batter into the prepared pan, smoothing the top. Bake for 35-40 minutes, or until a toothpick inserted in the center comes out with a few moist crumbs, but no wet batter.
Place the pan on a wire rack and let the cake cool to room temperature.
Transfer the cooled cake to the freezer for 10–15 minutes until firm, or refrigerate (covered) for at least 1 hour or up to overnight. Chilling the cake makes it easier to move.
While the cake chills, prepare the ermine frosting.