Preheat oven to 350°. Beat butter at medium speed with an electric mixer until creamy. Gradually add sugar, beating until light and fluffy. Add eggs, 1 at a time, beating just until blended after each addition.
Combine flour, cocoa, and baking soda. Add to butter mixture alternately with sour cream, beginning and ending with flour mixture. Beat at low speed just until blended after each addition. Stir in vanilla; stir in red food coloring. Spoon cake batter into 3 greased and floured 8-inch round cake pans.
Bake at 350° for 18 to 20 minutes or until a wooden pick inserted in center comes out clean. Cool in pans on wire racks 10 minutes. Remove from pans to wire racks, and let cool 1 hour or until completely cool.
Spread 5-Cup Cream Cheese Frosting between layers and on top and sides of cake.