Whisk the dry ingredients - this includes the flour, baking soda and salt.
Beat the butter and oil. Add the sugar and beat. Add the eggs and vanilla extract and beat. Add half of the dry ingredients and mix until almost combined, then half of the milk and mix until almost combined. Repeat with the other halves of the dry ingredients and the milk.
Evenly separate the cake batter into a 12 cup cupcake tin and bake for 16-18 minutes until a toothpick inserted into the center comes out clean.
Beat together the cream cheese and butter, then add the peanut butter and mix. Add the powdered sugar, salt, vanilla extract and milk and mix until combined.
Whisk the egg whites, granulated sugar, cream of tartar and vanilla extract in a bowl over 2 inches of boiling water until thin and frothy on top. Remove from the heat and beat on high speed for 5-6 minutes until stiff peaks form.
Once the cupcakes are cool, dollop a bit of peanut butter frosting on the cupcake, followed by the meringue. Toast with a kitchen torch. Enjoy! Store in an airtight container.