This pie reveals two lovely layers when sliced: A smooth cream cheese layer on the bottom and sweet red velvet cake batter on top. Be sure to let the pie cool completely before slicing and serving. It’s delicious finished with whipped cream, but you can always slather on a thin layer of your favorite cream cheese frosting if you’re feeling extra-decadent.
Preheat the oven to 350 degrees F. Place the prepared pie crust on a parchment-lined baking sheet and refrigerate until ready to fill.
For the cream cheese layer: Cream the cream cheese and confectioners' sugar in the bowl of a stand mixer fitted with the paddle attachment until smooth, 2 to 3 minutes. Add the egg, egg yolk and vanilla and mix until well combined.
Spoon the cream cheese filling into the crust and spread evenly. Chill in the freezer to firm the base while you make the second layer.
For the red velvet layer: Whisk the flour, cocoa powder and salt together in a medium bowl. In the same mixer bowl you used for the cream cheese layer, cream the butter and granulated sugar together until light and fluffy, 3 to 4 minutes. Add the egg and egg white and mix to combine.
Add the vanilla and food coloring and mix well, then add the dry ingredients and mix until combined. Spoon the red filling into the chilled pie and spread into an even layer.
Bake until the crust is deep golden brown and the filling springs back when touched lightly in the center, 40 to 45 minutes. Cool completely before slicing. Serve with whipped cream if desired.