01 - Whisk together flour, cocoa powder, sugar, baking powder, baking soda, and salt in a large bowl until thoroughly blended.
02 - In a separate bowl, combine buttermilk, milk, eggs, melted butter, vanilla, and red food coloring. Whisk until smooth and uniform.
03 - Pour wet ingredients into dry ingredients. Gently fold together until just combined; do not overmix. Small lumps should remain in the batter.
04 - Heat a nonstick skillet or griddle over medium heat. Lightly grease with butter or oil.
05 - Pour approximately 1/4 cup batter per pancake onto the skillet. Cook until surface bubbles form and edges appear set, about 2–3 minutes. Flip and cook an additional 1–2 minutes until cooked through. Transfer to a plate and repeat with remaining batter.
06 - Beat softened cream cheese in a medium bowl until smooth. Add powdered sugar, milk, and vanilla; beat until creamy. Add more milk, one teaspoon at a time, if needed to reach pourable consistency.
07 - Stack pancakes on serving plates. Generously drizzle with cream cheese topping. Serve immediately while warm.