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In advance: Make arrows. Using melted white candy in cut parchment bag, pipe 1 1/2 in. long front and back ends of arrows on waxed paper-covered board; refrigerate until firm.
Bake and cool heart cupcakes in silicone molds supported by cookie sheet. Prepare icing and tint a portion pink; reserve some white. Ice cupcakes smooth in pink or white. Insert arrow ends. Outline heart with red or pink Sparkle Gel.