Preheat the oven to 350°F (176°C) and prepare a cupcake pan with cupcake liners.
In a large mixing bowl, cream the butter and sugar until light in color and fluffy, about 3 to 4 minutes. Add the sour cream and almond extract and mix until well combined. Add 1 of the egg whites and mix until well combined. Add the remaining 2 egg whites and mix until well combined. Scrape down the sides of the bowl as needed to be sure all the ingredients are well incorporated.
Combine the flour, baking powder and salt in a medium bowl, then combine the milk and water in a small measuring cup. Add half of the flour mixture to the batter and mix until well combined. Add the milk mixture and mix until well combined. Add the remaining half of the flour mixture and mix until well combined. Scrape down the sides of the bowl as needed to be sure all the ingredients are well incorporated.
Fill the cupcake liners about halfway with batter. Bake the cupcakes for 15 to 17 minutes, or until a toothpick inserted comes out with a few crumbs. Remove the cupcakes from oven and allow them to cool for 2 to 3 minutes, then transfer them to a cooling rack to finish cooling. To make the frosting, beat the butter and shortening in a large bowl until smooth. Add 2 1?4 cups (259 g) of the powdered sugar and beat until smooth. Add the maraschino cherry juice and beat until smooth. Add the remaining 2 1?4 cups (259 g) powdered sugar and beat until smooth.
Frost the cupcakes with the dome technique (refer to the tutorial on page 224, if needed), then add the sprinkles to the sides and a cherry on top. (For tips on adding sprinkles, refer to page 247, if needed.)
Store cupcakes in the refrigerator in an airtight container to keep the cherries fresh. These cupcakes are best eaten within 2 to 3 days. If you’d prefer to not refrigerate the cupcakes, you can add the cherries just before serving.