Preheat oven to 350 degrees and line a standard muffin pan with parchment paper or spray with non-stick cooking spray.
Add cake mix to a large mixing bowl. Using a hand or stand mixer, mix in the water, egg whites, oil, and mayonnaise on medium speed until well incorporated.
Divide batter evenly between three separate bowls. Add the red food coloring to one and the blue color and Jello mix to another. Leave the last one uncolored.
Add a layer of blue batter to the muffin tin.
Add the white batter, and then the red. Each muffin tin should be about 2/3 full.
Bake for 18-20 minutes, or until a toothpick inserted into the center of the cupcake comes out clean. Place on a wire rack and allow to cool completely before adding the frosting.
In a large mixing bowl, using a hand or stand mixer, cream the butter for 2 minutes, until light and fluffy.
Mix in the vanilla extract and lemonade flavoring. (Start with just 1-2 drops and increase gradually, as this flavoring is strong!)
Slowly mix in the powdered sugar, 1 cup at a time, alternating each cup with 1 tablespoon of the heavy cream. Continue to mix until the frosting is creamy and forms stiff peaks.
Divide the frosting into 3 bowls. Add the blue food coloring to one and the red to the other, 1 drop at a time. Mix until the desired color is achieved. Leave the frosting in the third bowl white.
Place a large piping bag in a large glass or mason jar and fold the end over the edge of the glass. Using a frosting spreader, put a stripe of the red frosting on one side and then another across from it. Repeat with the blue frosting.
Carefully fill the rest of the bag with white frosting.
Before using the frosting, squeeze a little onto a plate. Once you see all three frosting colors come out, you can frost your cupcakes.
Add red, white, and blue sprinkles over the top of each cupcake and enjoy!