In a large bowl, sift together the flour, sugar, baking soda, salt and cocoa powder. In another large bowl, whisk together the oil, buttermilk, eggs, food coloring, Texas Pete® Hot Sauce and vanilla.
Using a standing mixer, mix the dry ingredients into the wet ingredients until just combined and a smooth batter is formed.
Carefully spoon the batter into the ice cream cones filling them 2/3 of the way up to give them room for rising in the oven. Arrange the cones on a parchment-lined sheet tray standing up and place them into the oven to bake at 350 degrees for approximately 15-20 minutes or until they have fully risen and a tooth pick inserted into the center of the cake comes out clean.
Remove the cakes from the oven and let cool completely.
While the cakes are in the oven, prepare the spicy cream cheese frosting.
Place the softened cream cheese and the softened butter into a medium size mixing bowl and whisk together until smooth. Add the powdered sugar and continue to whisk until the mixture is smooth. Add the vanilla extract and the Texas Pete® Hotter Hot Sauce and whisk one more minute. You may add more powdered sugar or Texas Pete® Hotter Hot Sauce so that the icing is to your liking.
Place the spicy cream cheese frosting into a piping bag with a small decorative tip.
Using the tip of a piping bag, carefully puncture a small hole into the center of the top of the red velvet cake and pipe approximately 2-3 tablespoons of the spice cream cheese into the center of the cake allowing some of the cream cheese to come out of the top for decoration. Continue until all the red velvet cake cones are filled. Use any extra cream cheese icing to frost the tops of the cones.