Preheat the oven to 350 degrees. Spray a 9 x 13 pan with cooking spray. Set aside.

In a large bowl beat softened butter until creamy.

Add in the eggs and milk and mix until well combined.

Add the red velvet cake mix and use a hand mixer to mix on medium speed for 2 minutes or until the batter is smooth.

Pour the batter into the prepared pan and bake for 28-30 minutes or until a toothpick inserted into the center comes out clean.

Remove from oven and place on a cooling rack for 10 minutes.

Using the back of a wooden spoon or a chopstick, poke holes all over the cake.

In a medium sized mixing bowl whisk together pudding mix and milk. Whisk until smooth.

Quickly pour the pudding over top of the cake and spread over the holes to fill them.

In a large mixing bowl combine the Cool Whip, powdered sugar, and vanilla. Whisk until combined.

Spread the whipped frosting over top of the cake.

Refrigerate for at least 2 hours before serving.