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Make an ice bath by placing a small bowl on top of a medium bowl filled with ice.
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In a small saucepan, cook 12 tablespoons of the butter over medium heat, swirling the pan occasionally, for about 7 minutes, until the butter turns a nutty brown.
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Immediately pour the browned butter into the small bowl sitting in the ice bath.
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Cool the butter to room temperature, cover and refrigerate until it solidifies.
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Transfer the solidified browned butter to a large bowl.
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Add the remaining 4 tablespoons of butter, the confectioners' sugar, cream and lemon juice.
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Beat the frosting with an electric mixer until it is light and fluffy, then spread over cooled cupcakes.