Step 1: Preheat your oven to 350°F (175°C) and grease two 8-inch round cake pans, lining the bottoms with parchment paper.
Step 2: In a large bowl, whisk together the flour, sugar, baking soda, salt, and cocoa powder.
Step 3: In a separate bowl, mix the oil, buttermilk, eggs, food coloring, vinegar, and vanilla until well combined.
Step 4: Gradually add the dry ingredients to the wet ingredients, mixing until just smooth. Do not overmix.
Step 5: Divide the batter evenly between the prepared pans and bake for 30-35 minutes, or until a toothpick comes out clean.
Step 6: Allow the cakes to cool in the pans for 10 minutes, then transfer to a wire rack to cool completely.
Step 7: Prepare the frosting by beating the cream cheese and butter together until fluffy, then gradually adding powdered sugar and vanilla.
Step 8: Level the cooled cakes and frost between the layers, then cover the top and sides with a smooth layer of frosting. Chill the cake for at least 30 minutes.
Step 9: Make the drip by heating the heavy cream until simmering, then pouring it over the white chocolate chips. Let sit for 2 minutes, stir until smooth, and add red gel coloring until the desired 'blood' shade is achieved.
Step 10: Using a spoon or squeeze bottle, carefully drip the ganache over the edges of the chilled cake, then fill in the center of the top.