Heat the oven to 325°F. Lightly coat a 9×13-inch metal pan with nonstick spray and line the bottom with a parchment strip for easy lifting.
Drain the cherries, measure out 1/3 cup of the juice for the batter, then finely chop 12 cherries. Blot the chopped cherries very dry with paper towels to prevent color bleeding.
Reserve 1 heaping teaspoon of dry cake mix in a small bowl. Toss 1 cup of the mini chocolate chips with this pinch of mix to lightly coat; set the remaining 2 tablespoons of chips aside for topping.
In a large bowl, whisk together the milk, cherry juice, oil, egg whites, almond extract, vanilla, and salt until smooth.
Add the remaining cake mix to the wet ingredients and stir just until combined. Fold in the coated chocolate chips and chopped cherries. Let the batter rest for 5 minutes to relax bubbles and help suspend the mix-ins.
Spread the batter evenly in the prepared pan and sprinkle the reserved 2 tablespoons of chocolate chips over the top.
Bake until the top springs back lightly and a toothpick comes out with a few moist crumbs, 28 to 33 minutes. Cool on a rack for 10 minutes.
While the cake is still warm, poke holes all over the surface (about 3/4 inch apart) using the handle of a wooden spoon or a thick skewer. Warm the condensed milk for 15 seconds in the microwave to loosen it.
Slowly drizzle half of the condensed milk over the cake, letting it soak in, then repeat with the remaining half. Cool to room temperature, then refrigerate uncovered for 20 to 30 minutes to set.
Spread the whipped topping over the chilled cake. Drizzle with warm hot fudge in thin ribbons and garnish with a few extra cherries. Chill 1 hour before slicing for the cleanest squares.