Preheat oven to 350 degrees F and line muffin pan with cupcake liners.
Whisk together coconut milk and flaxseed and allow to sit for 10 minutes, then whisk in sugar, oil, vanilla, and almond extract.
In another bowl, sift together flour, corn flour, almond meal, cocoa powder, baking powder, baking soda, salt, cinnamon, and cayenne. Gently mix in wet ingredients.
Fill cupcake liners with 1/4 cup of batter (approximately 2/3 full). Bake for 22-25 minutes or until a toothpick inserted in the center comes out clean. Transfer to a cooling rack and cool completely.
Make frosting: Cream the butter. Slowly add most of the confectioners’ sugar, 1/2 cup at a time, until mixture is smooth and fluffy. Add soymilk, extracts, and coloring (if desired), and mix until combined. Add remaining powdered sugar, adding more if necessary to achieve proper consistency. Mix at medium-high speed until light and fluffy.
Spread or pipe frosting onto cooled cupcakes.