Preheat the oven to 350 degrees. Line 2 muffin tins with paper liners.
In a large bowl combine the cake mix and the Coke. Stir until combined. Whisk in the oil and the eggs until well combined.
Pour the cupcake batter into the prepared pans, filling the cups 2/3 of the way full. Bake for 18-20 minutes or until a toothpick inserted into the center comes out clean.
Remove from oven and cool completely on a wire rack.
Meanwhile, in a large bowl cream the butter with a handmixer until smooth. Add in 2 cups of the powdered sugar and mix well.
Stir in the Coke, maraschino cherry juice, and vanilla with a spoon. Add in an additional cup of powdered sugar and mix with the mixer. Add in as much remaining powdered sugar as needed to reach desired consistency.
To make the Coke Float Cupcakes in a Jar remove the liners from 12 cupcakes and cut each cupcake in half. Place one half cupcake in the bottom of each mason jar. Pipe frosting on top of the cupcake. Place another cupcake half in the jar and then frosting. Repeat these steps until there are 4 cupcake halves with frosting on top of each. On the last bit of frosting, pipe it on until it is even with the top of the jar.
Place a cherry on top of the frosting. Set out additional cherries, nuts, and sprinkles to put on top of the cupcakes.