Preheat the oven to 350 degrees F. Butter and flour a 12-cup non-stick bundt pan.
In a medium bowl, whisk together the flour, salt, baking powder and baking soda.
In a separate bowl, whisk together the buttermilk, cherry syrup and vanilla extract.
In the bowl of a stand mixer fitted with the paddle attachment, cream together the softened butter and sugar until light and fluffy, about 4-5 minutes. Add eggs and yolk and beat until well combined, scraping down the sides of the bowl as needed.
To the mixer bowl, add 1/3 of the flour mixture and mix on low speed until just combined. Add 1/2 the buttermilk mixture and continue to mix. Continue to alternate flour and buttermilk until just combined. Remove from the mixer and give the batter a good stir by hand. Add a couple drops of red food coloring if you want a stronger pink color. Stir in the cherries and chocolate chips to distribute evenly.
Scoop the batter into the prepared bundt pan and even out the top with a rubber spatula. Rap the pan on the counter a few times to make sure it gets into all the nooks and crannies of the pan.
Bake in the preheated oven for 50-60 minutes or until a toothpick comes out clean. Place the pan on a cooling rack and cool for about 10 minutes in the pan. Turn the cake out onto a serving platter and cool completely (1 hour or so).
Make the glaze: In a small saucepan, heat the cream, corn syrup, and chocolate, stirring constantly until chocolate is melted and smooth. Remove from heat and stir in the vanilla. Let cool at room temperature until slightly thickened, 20 minutes or so.
Slowly pour the glaze over the top of the cake, allowing it to dribble down the sides.