In a medium bowl, add the 2 bricks of cream cheese, sugar, egg, and vanilla and mix with a hand mixer on medium until smooth.
Add in the food coloring and mix until just combined.
Pour half of the chocolate batter into the prepared bundt pan.
Spoon the cream cheese mixture into a ring around the center of the chocolate batter. Gently smooth the cream cheese mixture with a spatula to evenly distribute.
Pour the remaining cake batter on top.
Bake for 45 minutes or until a toothpick inserted into the center comes out cleanly.
Let cool then flip onto a cooling rack to cool completely.