Yes. You can make red velvet cupcakes with red velvet cake batter. You will get about 24 cupcakes if you bake the batter in cupcake liners instead of cake pans. In addition, you can also add the cream cheese mixture to the center of the cupcakes. However, you will have extra cheesecake batter, so you can bake a small cake or additional mini cheesecakes out of it. To bake red velvet cheesecakes, add two tablespoons of batter to the bottom of the cupcake papers. Add 1 tablespoon of the cheesecake filling, and top with an additional layer of cake batter. Bake at 350°F degrees for 15-20 minutes.