To make frosting, in large bowl, stir together 8 cups powdered sugar and 1 tablespoon meringue powder. With electric mixer on low speed, beat in 1 cup shortening, 1/2 cup milk, 2 teaspoons vanilla and 1 teaspoon almond extract; beat on medium speed until smooth. Add additional milk, 1 tablespoon at a time, to make frosting spreadable consistency. Stir in food color. Transfer frosting to another large bowl; cover with plastic wrap. Make frosting as directed 3 more times.