Based on the Electric Universe physics a Red Star could harbor a planetary system within. How would life evolve taking in account that light would be almost constant in all the planets contained by the star. In doubt, let's assume conditions are equal to our universe, but with a constant stream of energy in the surface of the planets.
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The surface of a red star will be at around 3000 Kelvin, which is hot enough to melt any elements except tungsten, carbon, rhenium, osmium, and tantalum. In fact, everything except carbon and a slightly larger array of metals will have boiled away by 3000 K. Most chemical compounds will have denatured long before that.
An added difficulty here is that although there will be plenty of energy present in the form of heat, that doesn't make it useful energy. Loosely speaking, using thermal energy (including radiant heat) to do useful work requires a temperature differential; plants can photosynthesise because sunlight is thousands of degrees "hotter" than the plant's ambient temperature, but when everything is at the same 3000 Kelvin it's impossible to make use of that heat.
If life exists under those conditions, it will not be remotely as we know it. Best option is to hand-wave about exotic states of matter, especially since plasma cosmology already takes this into fringe-theory territory.