Heat oven to 350°F (325°F for dark or nonstick pans). Place foil or paper baking cup in each of 24 regular-size muffin cups.
In a large bowl, beat all cupcake ingredients with an electric mixer on low speed 30 seconds. Beat on medium speed 2 minutes, scraping bowl occasionally. Divide batter among muffin cups.
Bake 16 -18 minutes or until a toothpick inserted in the center comes out clean. Cool 10 minutes; remove cupcakes from pans to cooling racks. Cool completely.
While the cupcakes are cooling maket the frosting In large bowl, beat the butter with an electric mixer until light and fluffy. Gradually add powdered sugar 1 tablespoon at a time, until combined. Add the champagne and the vanilla then mix until blended, light and fluffy.
Spoon frosting into a piping bag fitted with star tip. Pipe frosting in circular pattern on tops of cupcakes. Garnish with the gold dust and crystal sugar.