Preheat oven to 350 degrees. Line a standard sized muffin pan with muffin liners or spray with cooking spray. In a large mixing bowl, combine all the ingredients. Mix until just blended.Fill muffin cups a little more than 3/4 full. Bake for about 20 - 24 minutes or until a toothpick comes out clean. Remove from oven and cool completely.
While the cupcakes are cooling, make the frosting. In a medium bowl, cream together the cream cheese and butter until creamy. Mix in the vanilla, then gradually stir in the confectioners' sugar.
Once the cupcakes have completely cooled, ice them and enjoy!
*TIP: I did not have time to make cupcakes, so I just threw the whole batter into a lightly greased 13X9 inch pan! And it finished baking around 35 minutes. I let it cool until it was a little warm, then frosted it. And immediately put it into the fridge, to get the frosting nice and hard. The next day it was even yummier! My whole family and I went crazy for it! :)