Make the Red Velvet Cake Mix according to box instructions.

Place whole milk in a pot over medium-high heat. Add the sugar and stir until dissolved. Add the semi-sweet chocolate chips and stir until melted.

Add red velvet emulsion and vanilla. Stir to combine. Remove from heat.

Use a hand mixer or stand mixer to cream the sugar and heavy whipping cream together for 3-5 minutes, until soft peaks form.

Add the cream cheese and mix until combined.

To assemble hot chocolate, use a biscuit cutter to cut out a piece of red velvet cake. Place in a glass, then pour the hot chocolate over the top. Next either pipe or dollop the cream cheese whipped cream on top. Sprinkle on some crumbled red velvet cake. Serve immediately.