Heat oven to 350°F Place paper baking cup in each of 24 regular-size muffin cups. In large bowl, beat cake mix and gelatin with electric mixer on low speed for about 30 seconds. Add remaining cupcake ingredients. Beat with electric mixer on low speed for about 30 seconds; beat on medium speed additional 2 minutes, scraping bowl as necessary. Divide batter evenly among muffin cups, filling each about 2/3 full.
Bake 17 to 22 minutes or until toothpick inserted in center comes out clean. Cool in pan around 10 minutes. Remove from pan to cooling rack. With toothpick or wooden skewer, pierce tops of cupcakes in several places.
In small bowl, mix 1 cup powdered sugar and enough of the 2 to 2 1/2 tablespoons lime juice until glaze is smooth and thin enough to drizzle. Drizzle and spread glaze over cupcakes. Cool completely, about 30 minutes.
In large bowl, beat cream cheese and butter on medium speed until light and fluffy. On low speed, beat in vanilla and 3 1/2 cups powdered sugar until mixed; beat on medium speed until fluffy and frost cupcakes. Will want to store covered in refrigerator.