Preheat oven to 350 degrees F (175 degrees C). Line muffin cups with paper or aluminum foil liners.
Beat cake mix, water, egg whites, butter, peppermint extract, and food coloring together in a bowl using an electric mixer on low speed for 30 seconds. Increase speed to medium and continue to beat until smooth, scraping down sides as needed, about 2 minutes. Spoon batter into prepared muffin cups, filling about 3/4-full.
Bake in the preheated oven until a toothpick inserted in the center comes out clean, 20 to 22 minutes. Rotate tins halfway through the baking process to promote even baking. Transfer cupcakes to a wire rack to cool completely.
Frost cupcakes with vanilla frosting and top with crushed candies.