Preheat oven to 350 degrees F (175 degrees C). Grease or line 36 muffin cups with paper liners.
Beat baking mix, pumpkin puree, white sugar, brown sugar, eggs, 1/4 cup butter, milk, and pumpkin pie spice together in a bowl using an electric mixer on low speed until well mixed; spoon into the prepared muffin cups.
Bake in the preheated oven until a toothpick inserted in the center comes out clean, 20 to 30 minutes. Cool cupcakes in pan for 5 minutes before transferring to a wire rack to cool completely.
Beat cream cheese and 1/2 cup butter together in a bowl using an electric mixer on low speed until smooth and creamy. Beat 2 cups confectioners' sugar and vanilla extract into creamed butter mixture on low speed until well mixed; increase to high speed and beat until fluffy. Gradually pour 2 1/2 cups confectioners' sugar into frosting and beat on medium speed until frosting is thickened.
Spoon frosting into a resealable plastic bag and snip 1 corner. Pipe frosting onto the cooled cupcakes.
Nutritional Facts
Per 36 servings
Calories: 197
Carbohydrate: 33g
Fat: 7g
Fiber: 1g
Protein: 2g
Sugar: 26g
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