Warm the milk in the microwave until it reaches about 98°F. Pour it into a large mixing bowl and whisk in the sugar, vanilla, and yeast until combined. Stir in 1 cup of flour, then continue adding flour a little at a time, mixing with a wooden spoon, until a dough starts to come together. Turn the dough out onto a lightly floured surface and knead until it’s smooth, soft, and no longer sticky.
Place the dough in a bowl lightly coated with vegetable oil, turning once to grease the top. Cover with plastic wrap and let it rise in a warm spot for about 1 hour, or until doubled in size.
Roll the risen dough out to about ¼-inch thickness. Use a heart-shaped cutter to cut out the donuts. Arrange them on a board or baking sheet, cover with a clean cotton towel, and let rest for 30 minutes.
Add oil to a nonstick pan and heat it to 356°F. Fry 3-4 donuts at a time, turning as needed, until golden brown on both sides.
Remove the donuts from the oil and place them on paper towels folded into quarters to absorb excess oil.
Melt the chocolate and coat some of the donuts. Decorate with sprinkles, finely ground freeze-dried strawberry powder, and red hearts. Tint part of the remaining chocolate red and coat the rest of the donuts. Decorate with gold hearts. Let the glaze set completely before serving.