In a small mixing bowl, combine all Red Velvet Cake Batter ingredients. Whisk vigorously for 30-45 seconds until smooth. If the batter seems overly thick (like paste), add 1 to 2 additional teaspoons of coconut milk.
Generously grease a 7- to 10-ounce microwave-safe mug or ramekin. Pour the batter into the prepared mug.
Microwave on high for 75 seconds. Check the center with a toothpick. It is done when the toothpick comes out with moist crumbs, but not wet batter. If still wet, microwave in 15-second intervals.
Carefully remove the mug (it will be hot!) and let the cake rest for 1-2 minutes to cool slightly and finish cooking.
While the cake rests, prepare the Light Cream Topping. In a separate small bowl, beat the softened butter, powdered sweetener, heavy cream, and vanilla extract with a fork until smooth.
Spread the topping over the warm mug cake and enjoy immediately.