Pour 1 cup Lucky Charms cereal into a small bowl and add milk. Stir and put in fridge to rest for at least 30 minutes. Right before using, strain cereal from liquid, pressing down on cereal with wooden spoon to extract as much liquid as possible.
Preheat oven to 350 degrees and put cupcake papers into a 12-cavity cupcake tin.
In a medium bowl, whisk together flour, baking powder, and salt.
In the bowl of a stand mixer or in a large bowl with a hand mixer, cream together butter and sugar on medium-high speed until light and fluffy, about 3 minutes.
Add eggs in one at a time, mixing well after each addition. Mix in vanilla extract.
With mixer on low speed, beat in dry ingredients in 3 additions, alternating with ½ cup of the strained cereal milk (you should have some leftover for the frosting). Mix in each addition until just incorporated, taking care not to over-mix.
Fill cupcake liners about ¾ of the way with batter and bake for 18-21 minutes, until edges are golden and tester comes out clean. Let cupcakes cool in pan for a few minutes before removing to wire racks to cool completely.
Once cupcakes are completely cooled, core out a small section from the middle (either using a cupcake corer or with a knife). Fill center of cupcake about ¾ of the way with marshmallow fluff and push in 3-4 Lucky Charms marshmallows.
Frost cupcakes (I used a Wilton 1A pastry tip) and top them with gold sprinkles/gold leaf, Lucky Charms marshmallows, or anything else you'd like.