Preheat your oven to 350 degrees F and line two cupcake pans with paper liners.
Begin by preparing your cupcakes according to the box directions. For this particular mix, combine the cake mix, milk, eggs whites, oil, and vanilla extract in a large bowl. With your mixer on medium speed, beat for about two minutes. (I used Duncan Hines Classic White Cake mix. I substituted milk for the water and added 1/2 teaspoon vanilla extract. Please follow the directions on your particular package.)
With the batter ready, gently fold in 2 cups of Lucky Charms cereal until combined.
Bake the cupcakes for 18-21 minutes or until a toothpick inserted near the center comes out clean. Cool on a wire rack for about five minutes. Then, remove the cupcakes from the pan to continue cooling.
Meanwhile, prepare the buttercream frosting. In a bowl of a stand mixer with a paddle attachment, cream together the vegetable shortening and butter for 3-4 minutes. Flavor with vanilla extract, almond extract, and salt. Mix to combine. With the mixer on low, begin slowly adding the confectioners' sugar, about one cup at a time. Slowly add the milk as needed to achieve the desired consistency. Add food coloring to adjust the color.
Use a piping bag and star tip to frost the cooled cupcakes. (Alternatively, you can skip the piping process and use a knife or spatula to frost.) Garnish with Lucky Charms cereal.