Prepare the cake exactly as it has instructed on the box.
Let the cake cool for at least 15 minutes.
Using the end of a spoon, poke holes in the cake about 1 inch apart. This will allow an opening for the cherry gelatin mixture to go deep into the cake.
In a medium sized bowl combine the cherry gelatin and the coca cola. Stir it until the mixture has completely dissolved.
Pour the gelatin mixture over the cake, filling each hole.
Refrigerate this cake for at least 30 minutes to allow the gelatin to set.
In a medium bowl combine the instant vanilla pudding, vanilla and milk. Stir it until is has formed into a pudding consistency.
Fold the whipped topping into the pudding mixture to create your frosting. This frosting will be thick but yet light and fluffy.