Spread Lucky Charms cereal (without marshmallows) onto a lined baking sheet and bake for 15 minutes. Stir cereal halfway through cooking time. Remove from oven and allow cereal to cool.
Increase oven temperature to 350°F and coat a 9x13" pan with cooking spray.
Soak the cooled cereal pieces with milk in a large bowl, for about 15 minutes. Strain the cereal from the milk. Keep the milk and discard the cereal.
Cake Directions
In a large bowl or bowl of stand mixer, beat together the butter, oil, and sugar (for about 2 minutes).
Mix in the eggs, vanilla extract, and 3/4 cup of the cereal-flavored milk.
In a separate bowl, whisk together the flour, baking powder, cornstarch, and salt.
Add the dry ingredients to the bowl of wet ingredients, mixing until just combined.
Stir in green food coloring, until you have your desired shade of green. Cake color will lighten slightly after baking.
Pour the batter into the prepared pan and bake for 28-32 minutes. Remove from oven and allow to cool before frosting.
Frosting Directions
In a large bowl, beat together the butter, 3 cups of powdered sugar, 2 Tablespoons of the cereal milk, and the vanilla extract.
Beat for 2 minutes before adjusting the texture with additional powdered sugar, if needed.
Use an offset spatula to spread the frosting over the cooled cake.
Garnish with Lucky Charms marshmallows and sprinkles.
To Use a Box Cake Mix
Follow the directions under "Recipe Prep"
Prepare cake batter according to directions on box, substituting cereal-flavored milk for the liquid amount.
Bake according to box directions and allow cake to cool before frosting.
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Notes
Nutrition information is for the from-scratch recipe, and is an estimate only. Using a box cake or adjusting serving size will have different values.Storage - Keep leftovers in an airtight container at room temperature for up to 5 days. Cake does not require refrigeration.