Preheat the oven to 350˚F (177˚C). Spray a large Bundt pan with baking spray. Rub with a paper towel to coat all of the surfaces including the interior of the center core. Spray again lightly over all the surfaces. (Note** Don’t try to make this cake in a smaller Bundt pan as it will overflow. See notes above under Café Tips.) Place a piece of parchment paper or foil on a work surface and place a cooling rack on top.
Spray a large Bundt pan with baking spray. Rub with a paper towel to coat all of the surfaces including the interior of the center core. Spray again lightly over all the surfaces.
Preheat the oven to 350F.
Combine oil, butter and water in a large microwave-safe bowl and heat for 2-3 minutes on high power until the butter is melted. Whisk in the cocoa and buttermilk. Stir well to combine.
Add both sugars, the eggs and the vanilla extract. Whisk until well incorporated.
Sprinkle the baking soda and salt over the top of the batter and whisk well until any small lumps of baking soda have disappeared. Add the flour and whisk well again until smooth.
Lastly, add the red food color and vinegar and stir until well incorporated.
Transfer the batter to the prepared pan. Bake for 45-60 minutes or until the top springs back lightly when touched or a toothpick entered into a center area of the cake comes out clean. The best way to tell if a cake is done is to use an instant thermometer. The temp should read 200-205º F. when the cake is done.
Allow the cake to cool in the pan for 10 minutes then brush the top liberally with the peppermint glaze. Turn the cake out onto the prepared cooling rack and slowly brush the entire exterior with the glaze. Use it all up. Some of it will drip off onto the parchment paper or foil, but most of it will be absorbed.
Allow the cake to cool completely before trying to move it. Trust me!