Add flour, sugar, cocoa powder, milk and vanilla extract in a small saucepan. Heat this mixture on medium heat while constantly whisking or you can end up with lumps. When you have a smooth and thick mixture, remove this saucepan from the heat and let this mixture cool down completely in the fridge.

Now, in a microwavable bowl, add chocolate chips and heat them at 15 second increments until they have completely melted. Don't let the chocolate burn. Let the chocolate cool down on your countertop. You want it to be soft and not very hot or else your frosting will melt.

When the chocolate and the flour mixture have cooled down, we can put everything together. In a deep bowl, add shortening and butter and mix until they are properly blended.

Add the flour mixture and melted chocolate and mix again.

Finally, add powdered sugar and meringue powder. Mix again until everything is properly blended and fluffy.