Preheat oven to 350F. Line 3, 8-inch cake rounds with parchment paper; set aside.

Prepare the chocolate cake batter. In a large bowl, cream together the softened butter and sugar until light and fluffy. Add the eggs and vanilla and cream together. Then pour in the milk. In a separate bowl, combine all the dry ingredients: flour, cocoa powder, baking powder and salt. Sift the dry ingredients into the batter, whisking just until combined. Fold in the diced cherries.

Divide the cake batter between the prepared pans. I use my kitchen scale to divide the batter evenly. Bake in preheated oven for 40 to 45 minutes, or until a toothpick inserted into the center comes out clean. Remove the cake layers onto a cooling rack to cool completely.

Once cake layers have cooled, prepare the frosting. Place the softened butter and cream cheese into a mixing bowl and whisk on high speed for 5 to 7 minutes, or until the mixture is very light and fluffy. Begin adding the confectioner's sugar and whisk until fluffy. Add the salt, vanilla and rum last and whisk just until combined.

Assemble the cake. Level off the tops with a long serrated knife. Spread a generous amount of frosting between each layer and add halved cherries. Frost the top and sides and garnish as desired. Keep cake refrigerated if not serving same day. Remove cake from the refrigerator 1 hour prior to serving to allow the frosting to soften.