Preheat oven to 350 degrees F. Grease two 8-inch cake pans with baking spray, set aside.
Combine first 5 ingredients in a bowl, whisking to combine.
In a stand mixer fitted with a paddle attachment, cream sugar and shortening until light in color, about 3 minutes on medium-high speed.
At a medium-low speed, add eggs, one at a time. Lower speed further to add vanilla and red food coloring. Scrape bowl frequently. On a medium-low speed, add dry ingredients in three additions, alternately with sour cream and buttermilk in two additions, beginning and ending with the dry mixture. Scrape bowl and paddle to ensure proper incorporation.
Divide batter into the two prepared pans. Baking until a toothpick inserted comes out with a few moist, not wet crumbs, about 40 minutes. Let cakes cool in pans for 10 minutes before inverting into a wire rack to cool completely.