Preheat oven to 350 degrees. Combine flour and cocoa powder in a bowl and set aside. Beat butter with an electric mixer on medium speed for 30 seconds. Beat in sugar and baking soda, baking powder and 1/2 teaspoon salt. Beat in egg and vanilla and gradually add in the flour.
Shape dough into 1-inch balls and place 2 inches apart. Press down in the center of each ball with your thumb and add a cherry in the middle.
For the frosting, add the sweetened condensed milk and chocolate chips into a saucepan. When the chocolate is melted, add the cherry juice. Stir constantly so the milk and chocolate won't burn.
Spoon 1 teaspoon of the chocolate sauce on top of the cherry and spread to cover the cherry only. Bake for 7-9 minutes.