Prepare white cake batter according to box instructions, then scoop out 1 1/4 cup of batter and place it into a lightly greased 8" round cake pan. Divide the remaining batter among three small clean bowls (1 1/4 cups of batter per bowl).
In the first bowl blend in two drops of red dye until the batter is an even shade of light pink. Pour into a lightly greased 8" round cake pan. Bake the white layer and light pink layer for 8-10 minutes or until a toothpick inserted in center comes out clean. Let cool on wire racks.
With the remaining batter add 4 drops of red dye to one bowl and mix till a darker shade of pink is made. Pour into prepared 8" round cake pan. With the last bowl of batter add 12 drops of red dye and mix until a dark pink color is made. Pour into prepared 8" round cake pan. Bake both cakes for 8-10 minutes or until toothpick inserted in center comes out clean. Let cool on wire racks.
For frosting: Beat heavy cream in bowl of a stand mixer on high until soft peaks form. Add powdered sugar and continue beating on high until stiff peaks form. Keep cool until ready to frost.
Use a 3" round cookie cutter to cut out cake from each cake. Layer white cake first, then whip cream frosting, light pink cake, frosting, pink cake, frosting, dark pink cake, then frosting on top and around sides. Top with sprinkles. Keep in fridge until ready to serve.