To make the cupcakes, preheat oven to 350 degrees. Place 12 paper muffin cups into a muffin tin. Place the egg yolks into a medium bowl. Add the 1/2 cup sugar, vanilla and almond extracts and beat on high speed for 2 minutes. Add the potato starch and ground almonds and mix in. Set aside.
Place the whites into a large bowl and beat on high speed until stiff. Turn the speed to low and add the remaining 2 tablespoons sugar. Turn the speed back up to high and beat another minute.
Use a silicone spatula to fold the egg whites into the yolk mixture. Scoop the batter evenly into the muffin cups. Bake for 20 minutes or until a toothpick inserted comes out clean. Let cool on a rack.
To make the icing, in a large bowl, use an electric mixer to beat the shortening and margarine or butter together. Add the vanilla and beat to mix in. Add the confectioner’s sugar, one cup at a time, mixing well after each addition. Add the milk and beat at high speed for two minutes or until fluffy. Add desired colors. Store covered in the fridge for up to 5 days.