Preheat oven to 325 degrees F.
Grease and flour at least a 9 inch sized bundt pan. Make sure to grease and flour the pan very well as this cake is super moist and will stick if the pan isnt prepared well.
Combine the flour, sugar, baking soda, baking powder, cocoa powder and salt in a large mixing bowl. Whisk and set aside.
In another bowl, combine the buttermilk, oil, vinegar, vanilla, eggs and food coloring . Mix well with a whisk.
Turn the mixer on low and add in the butter slowly to the dry ingredients. Mix on medium to medium-high until all the flour is coated with the butter and the mixture is crumbly with a sand-like texture.
Pour in about half of the liquid mixture. Mix on medium speed until just combined. Only about 30 seconds.
Pour the last of the liquid mixture and mix on medium speed again until well combined. Be careful not to over-mix the batter. Only mix until everything is combined.
Scrape the sides of the bowl and mix again for only about 10 to 15 seconds.
Add in the mini chocolate chips if desired and stir by hand.
Pour into prepared pan.
Bake approximately 50 minutes. A toothpick inserted into the cake will come out with a few moist crumbs on it but no raw batter.
Set on a wire rack to cool in the pan for no less than 45 minutes, then turn the cake out onto the rack and let cool out of the pan completely before adding glaze. Make sure to let the cake sit in the pan, on a rack for 45 minutes before trying to remove it from the pan as the cake is very moist and will stick to the pan if if still very warm.