Preheat your oven to 350°F (175°C) and grease a 9-inch cake pan. In a mixing bowl, sift together the flour to ensure it’s light and free of lumps.
Separate the eggs, placing the yolks and whites into different bowls. Whisk the egg yolks with half of the sugar and vanilla until smooth and golden, about 2-3 minutes.
In a clean bowl, beat the egg whites until soft peaks form. Gradually add the remaining sugar and beat until stiff, glossy peaks develop.
Gently fold the egg yolk mixture into the whipped egg whites, combining carefully to keep the batter airy. Then, sift the flour over the mixture and fold in gently until just combined.
Pour the batter into the prepared cake pan and smooth the top. Bake for about 25 minutes, or until the cake is golden and a toothpick inserted in the center comes out clean.
Remove the cake from the oven and allow it to cool in the pan for 10 minutes, then transfer it to a wire rack to cool completely. Pierce the cooled cake all over with a fork to help it absorb the milk mixture.
In a bowl, combine the evaporated milk, sweetened condensed milk, and heavy cream. Whisk until smooth and well blended.
Slowly pour the milk mixture over the cooled cake, making sure to cover all surfaces so it soaks evenly. Let the cake absorb the milks for at least 30 minutes, refrigerating if needed.
Meanwhile, whip the heavy cream with powdered sugar until soft peaks form. Spread or pipe the whipped cream over the soaked cake for a creamy topping.
Finish by decorating the top with additional whipped cream or a sprinkle of cinnamon if desired. Slice and serve chilled for a moist, sweet, and milky dessert.