1Heat oven to 350°F. Line 36 regular-size muffin cups with paper baking cups. In large bowl, beat all cupcake ingredients with electric mixer on low speed 30 seconds, scraping bowl constantly. Beat on high speed 3 minutes, scraping bowl occasionally. Divide batter evenly among muffin cups, filling each 1/2 full.
2Bake 20 to 25 minutes or until toothpick inserted in center comes out clean. Remove from pan; place on cooling rack. Cool completely.
3In medium bowl, beat all frosting ingredients with electric mixer on medium speed until smooth and spreadable. If necessary, stir in additional milk, 1 teaspoon at a time. Spread frosting over cupcakes.