Preheat the oven to 350°F (175°C). Line two muffin tins with 16–18 paper liners.
Prepare the red velvet cupcake batter according to the instructions on the cake mix box.
Divide the batter evenly among the prepared liners, filling each about three-quarters full.
Bake 18–22 minutes, or until a toothpick inserted in the center of a cupcake comes out clean. Remove from oven and cool the cupcakes completely before frosting.
While the cupcakes cool, make the buttercream. Place the 3 cups room-temperature unsalted butter in a large mixing bowl.
Using a mixer, beat the butter on medium speed until pale and smooth, about 30 seconds.
With the mixer on low, add the 6 cups sifted powdered sugar one cup at a time, pausing to scrape down the sides of the bowl between additions.
Add the 2 teaspoons vanilla extract and 1/4 teaspoon salt; beat on low speed for 15–20 seconds to incorporate.
Increase the mixer speed to high and beat until the frosting is light and smooth, about 5 minutes. (The frosting may look very soft at first but will increase in volume and stiffen.)
Set aside about 1 cup of the finished buttercream in a separate bowl. Add black food coloring to that reserved cup and mix until the color is evenly combined.
Fit a piping bag with a small round tip and fill it with the black buttercream. Fit a second piping bag with a star or large round tip and fill it with the remaining (untinted) buttercream.
Pipe swirls of the untinted buttercream onto each cooled cupcake.
Using the black buttercream in the small round tip, pipe a thin "string" around the surface of each frosted cupcake to resemble a light strand.
Press M&M's vertically into the side of the frosting along the black string to look like Christmas lights, spacing them as desired so they stick securely.