Preheat oven to 350°F. Spray 10-cup bundt pan or 10-inch tube pan with baking spray.
Combine dry cake mix, 1-1/4 cups water, Egg Beaters, oil and 2 tablespoons lemon peel in large bowl. Beat with electric mixer on low speed just until moistened. Beat on high speed 2 minutes. Pour into prepared pan.
Bake 45 minutes, or until wooden pick inserted near center comes out clean. Cool 30 minutes. Remove from pan; cool completely on wire rack.
Glaze: Beat confectioners' sugar and lemon juice with wire whisk until smooth. Add water, if necessary, for desired onsistency. Drizzle over cake; let stand until glaze is firm.
Garnish base of cake with strawberries just before serving. Serve with Reddi-wip, if desired.