Mise en place. Allow cream cheese and butter to soften at room temperature.
Cream together cream cheese and butter until light and fluffy.
Melt baker's chocolate in microwave for 30 seconds at 50% power. Stir, even if nothing melted. Continue heating at 15 second intervals at 50% power, stirring and allowing to sit a minute between heating intervals. Do NOT overheat (chocolate is very easy to scorch). Allow to cool slightly.
Beat melted chocolate into cream cheese/butter mixture. Add vanilla. Mix in. Scrape down bowl.
Add 1/2 C. red velvet cake mix and 1/4 C. powdered sugar. Beat in until well mixed. Repeat twice until all cake mix and powdered sugar and beat in and everything is well mixed. Beat an additional minute at medium speed.
Place two pieces of plastic wrap on counter next to each other, overlapping (you're aiming for one large piece). Scrape red velvet cheese into center of plastic wrap. Pull up the corners and edges together on the top to form cream cheese mix into a ball. Twist and tie the excess plastic at the top.
Place into a shallow bowl and refrigerate for at least two hours.
Remove from fridge, remove plastic wrap, and smooth cream cheese into a perfect ball shape.
Sprinkle 1/3 of chocolate chips onto plate. Set ball on top of chips. Using hand, press remaining chips onto the surface of the cream cheese ball. (I tried just rolling, but they don't stick very well...pressing seems to work best).
Serve with Vanilla wafers, graham crackers, Teddy Grahams, or other sweet cracker of choice.