Preheat the air fryer to 320°F (160°C).
In a large mixing bowl, combine the red velvet cake mix, vegetable oil, and eggs. Mix until well combined.
Stir in the chocolate chips and vanilla extract until evenly distributed.
Using a cookie scoop or tablespoon, portion out the dough and roll into balls.
Place the cookie dough balls in the air fryer basket, leaving space between each cookie to allow for spreading.
Air fry for 8-10 minutes, or until the edges are set and the tops are slightly cracked.
Remove the cookies from the air fryer and let them cool for a few minutes before transferring them to a wire rack.
Once cooled, dust the cookies with powdered sugar before serving.