Preheat to 350 degrees. Mix the following ingredients in a large bowl: flour, milk powder, baking powder, & salt. Combine butter, oil, & granulated sugar separately in another bowl, whisk together preferably w/ an electric mixer. Beat until light & fluffy in texture and color. Add egg whites, vanilla, & pink food coloring and mix well. Slowly add flour mixture & then champagne. Mix well & divide evenly among muffin cups. Bake for 19-21 minutes or until toothpick into center of cupcake comes out clean.
Pink Champagne Frosting:
½ cup butter or margarine, softened
4 cups powdered sugar
¼ cup champagne
1 tsp vanilla
4 to 5 drops pink food coloring
Pink sugar crystals and/or edible pink pearls
In medium bowl, beat frosting ingredients w/ electric mixer at medium speed until smooth. Frost cupcakes and sprinkle w/ crystals and pearls.