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 large bowl, beat all cupcake ingredients with electric mixer on low speed 30 seconds. Beat on medium speed 2 minutes, scraping bowl occasionally. Divide batter among muffin cups.
Bake 18 to 23 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes; remove cupcakes from pans to cooling racks. Cool completely.
In large bowl, beat shortening and butter with electric mixer on low speed until smooth. Gradually add powdered sugar, 1 cup at a time, beating until combined.
Add vanilla and 2 tablespoons of the liqueur; beat until blended.
Add enough of the remaining 1 to 2 tablespoons liqueur, 1 teaspoon at a time, beating until frosting is light and fluffy.
Spoon frosting into decorating bag fitted with #1M star tip; pipe frosting in circular pattern on tops of cupcakes.