Preheat oven to 350°F (175°C). Grease two 8-inch round cake pans.
Whisk together almond flour, cocoa powder, baking powder, and salt in a bowl.
In a separate bowl, cream butter and brown sugar substitute until fluffy. Beat in eggs one at a time.
Mix in buttermilk, vanilla, and red food coloring.
Fold dry ingredients into the wet mixture until just combined.
Divide batter between the prepared pans and bake 25–30 minutes, until a toothpick comes out clean.
Cool completely on a wire rack.
For the frosting, beat cream cheese and butter until smooth. Gradually add powdered sugar substitute and vanilla, beating until fluffy.
Frost between layers and over the top and sides of the cooled cake.