Preheat your oven to 350 degrees. Spray a Bundt pan with baking spray. Set aside.
In a small bowl mix together the milk and lemon juice. Let it sit for 5 minutes until the mixture thickens.
In a mixing bowl, whisk together the flour, baking soda, cocoa powder and sugar. Set aside
Add the milk and Lemon juice to a clean mixing bowl. Add the eggs, oil, vinegar, vanilla and food coloring. Mix with an electric mixer until smooth. About 3 minutes.
Add the dry ingredients and beat with an electric mixer until just absorbed. Do not over mix. Pour the batter into the prepared pan and bake until an inserted toothpick comes out clean. About 45-55 minutes. Cool completely before glazing.
To make the glaze:
In a small mixing bowl whisk together all the ingredients.
Pour over the cooled cake. Decorate with sprinkles if desired.