01 - Preheat waffle iron to manufacturer specifications until properly heated.
02 - In a large mixing bowl, whisk together flour, cocoa powder, sugar, baking powder, baking soda, and salt until evenly distributed.
03 - In a separate bowl, whisk eggs, buttermilk, melted butter, vanilla extract, and red food coloring until fully incorporated and uniform in color.
04 - Pour wet ingredient mixture into dry ingredients and fold together until just combined. Do not overmix. Gently fold in chocolate chips if using.
05 - Lightly grease preheated waffle iron. Pour 1/2 to 3/4 cup batter onto iron and cook until crispy and fully cooked through, approximately 4 to 5 minutes. Repeat process with remaining batter.
06 - In a medium bowl, beat softened cream cheese and butter until smooth. Add powdered sugar, milk, vanilla extract, and salt, whisking until achieving pourable consistency. Adjust milk quantity as needed for desired thickness.
07 - Plate warm waffles and drizzle generously with cream cheese syrup. Serve immediately.