1. Preheat oven to 350°.
2. To prepare cupcakes, place almond paste and granulated sugar in a bowl. Beat with a mixer at medium speed until mixture is sandy (about 2 minutes). Add egg white, and beat for 1 minute or until well combined. Add milk and oil; beat 1 minute or until well combined.
3. Weigh or lightly spoon flour into a dry measuring cup, and level with a knife. Combine the flour, baking powder, and 1/4 teaspoon salt, stirring with a whisk. Add flour mixture to almond mixture; beat at low speed 1 minute or until combined. Divide batter evenly among 24 miniature muffin cups coated with baking spray (a scant 2 teaspoons batter each). Bake at 350° for 8 minutes or until a wooden pick inserted in center comes out clean. Cool in pan 5 minutes on a wire rack. Remove from pan; cool completely on rack.
4. To prepare icing, place cream cheese and butter in a bowl; beat with a mixer at medium speed until smooth (about 2 minutes). Add the remaining ingredients; beat for 2 minutes or until well combined and smooth. Tint icing, if desired. Top each cupcake with about 1 1/2 teaspoons icing.