Preheat oven to 350°F and spray three 6-inch cake pans, or two 8-inch cake pans, with nonstick spray. Line inside bottom of cake pans with parchment paper and spray again.
In one bowl, whisk together flour, baking powder, and salt.
In another bowl, combine sugar, oil, 1 egg, 2 egg whites, and peppermint extract. Mix on medium speed with an electric mixer until smooth.
Add half of the flour mixture to the sugar mixture, along with half of the milk. Mix until ingredients are mostly combined. Repeat with remaining flour and milk.
Stir in food coloring. (Feel free to add more if you want a more vibrant color!) Fold in chocolate chips.
Divide batter evenly among cake pans and bake for 25 minutes, or until tops are golden brown and a toothpick inserted into the center of the cakes comes out clean.
Let cake layers cool in pans for 10 minutes, then transfer to a wire wrack to cool completely.