Preheat your oven to 350°F (175°C). Grease the baking pan or line it with parchment paper for easy removal.
In a mixing bowl, combine granulated sugar and softened butter. Beat until creamy using an electric mixer or a whisk.
Add the eggs one at a time, mixing well after each addition. Stir in the vanilla extract.
In a separate bowl, whisk together the all-purpose flour, cocoa powder, baking powder, and salt. Gradually add the dry mixture to the wet ingredients, mixing until just combined.
Add the red food coloring and chocolate chips (if using), mixing until evenly distributed.
Pour the brownie batter into the prepared baking pan and spread it evenly.
Bake in the preheated oven for 25-30 minutes, or until a toothpick inserted in the center comes out with a few moist crumbs.
While the brownies are baking, prepare the cream cheese frosting. In a mixing bowl, beat together the softened cream cheese and butter until smooth.
Gradually mix in the powdered sugar and vanilla extract until well combined.
Once the brownies are done, allow them to cool in the pan for 10-15 minutes before transferring to a wire rack to cool completely.
Once cooled, spread the cream cheese frosting evenly over the brownies. Cut into 12 squares and serve.