1Heat oven to 350°F. Place paper baking cup in each of 24 regular-size muffin cups. Make cake batter as directed on box, using cake mix, 3/4 cup lemonade concentrate, 1/2 cup oil, the water, eggs and food color. Divide batter evenly among muffin cups.
2Bake 20 to 22 minutes or until toothpick inserted in center comes out clean. Cool in pans 10 minutes; remove from pans to cooling rack. Cool completely, about 30 minutes.
3In large bowl, beat frosting, 6 tablespoons lemonade concentrate and the food color with electric mixer on low speed until blended. Frost cooled cupcakes. Garnish tops with candy sprinkles.