refrigerate red velvet cake?

I want to thank you all for responding! I appreciate it.

I agree with nutcakes, if you can keep it in a cool place, I wouldn't worry about refrigerating it. Cake that's been in the fridge is never quite the same. If it makes you nervous, pop it in the fridge, but be sure to take it out at least an hour before serving so it can warm up and be even more tasty!

Well, if it is cool, it will likely be fine same day, it's not thaaat perishable.

If you frost it in the morning, then yes.

You can bake the cake this morning, but don't frost it until just before dinner. The naked cake should be fine, but I think the frosting has cream cheese or something else rather perishable in it which should be refrigerated.