Preheat the air fryer to 320 degrees F (160 degrees C) for 3 to 5 minutes.
In a large mixing bowl, whisk together the cake mix, pudding mix, eggs, boiling water, oil, and food coloring until no dry streaks remain, about 1 minute.
Grease three mini loaf pans well with cooking spray. Divide the batter evenly among them, filling each about two-thirds full.
Place the pans in the air fryer basket with space between them. Air fry at 320 degrees F for 20 minutes.
Insert a toothpick into the center of a loaf. If it comes out clean or with a few moist crumbs, the bread is done. If not, add 3 to 5 minutes and check again.
Cool in the pans for 10 minutes, then turn out onto a wire rack. Slice and serve.