1/2canSweetened Condensed Milk, (more or less as desired, see notes)
Peach Cobbler Topping
1lbPeaches, (about 4 peaches)
1/3cupBrown Sugar
1tbspLemon Juice
1tspCinnamon
1 1/2tbspCornstarch
2tbspWater
Whipped Cream Topping
1 1/2cupsHeavy Cream
1/3cupPowdered Sugar
1tspVanilla Extract
Instructions
Preheat the oven to 350°F. Carefully separate the eggs, placing the egg yolks in one bowl and the egg whites in a separate clean, dry mixing bowl. Be sure no yolk gets into the egg whites, or they may not whip properly. 4 large Eggs
To the bowl with the egg yolks, add the softened butter, oil, 1/2 cup of the sugar, and vanilla extract. Using an electric mixer, beat on medium-high speed for 3–4 minutes, until pale, creamy, and well combined. Then add milk and mix until combined, about 30 seconds. 3 tbsp Salted Butter2 tbsp Oil2 tsp Vanilla Extract1/3 cup Whole Milk
Add cake flour, baking powder, and kosher salt and mix until just smooth. Set aside. 1 1/4 cups Cake Flour1 1/4 tsp Baking Powder1/2 tsp Kosher Salt
To the bowl with the egg whites, add remaining 1/4 cup of sugar and cream of tartar. Using clean beaters, whip everything on medium-high speed until stiff peaks form - it should look glossy and hold its shape. This will take about 3-5 minutes. 1/4 tsp Cream of Tartar
Add about one-third of the whipped egg whites to the cake batter and gently stir them in to lighten the mixture. Add the remaining egg whites, gently folding with a rubber spatula after each addition. Fold just until no large white streaks remain, being careful not to deflate the batter.
Pour the batter evenly in the prepared baking pan (do not line the pan with parchment paper - you want the batter to cling to the sides, don't worry, when the milk mixture is added, it won't stick afterward). Bake for 23–28 minutes, or until the cake is lightly golden, springs back when gently pressed, and a toothpick inserted into the center comes out clean or with a few moist crumbs. Let the cake cool in the pan for about 20 minutes.
In a medium bowl, whisk together the evaporated milk, whole milk, and sweetened condensed milk. Taste the mixture and add additional sweetened condensed milk as desired. Keep in mind that the peach topping and whipped cream will also add sweetness, so be careful adding too much sweetened condensed milk. 14 oz Evaporated Milk1/2 cup Whole Milk1/2 can Sweetened Condensed Milk
Use a fork, wooden skewer, or chopstick to poke holes all over the cake, making sure to reach nearly to the bottom. Slowly pour the milk mixture evenly over the cake, pausing occasionally to allow the liquid to soak in. Cover the pan and refrigerate the cake for at least 4 hours, preferably overnight.
Make the peach cobbler topping. Peel the peaches, if desired (I didn't), and cut them into small, about 1/2 inch chunks. Add the peaches, brown sugar, lemon juice, and cinnamon to a medium saucepan. Cook over medium heat for 5–7 minutes, stirring occasionally, until the peaches begin to soften and release their juices. 1 lb Peaches1/3 cup Brown Sugar1 tbsp Lemon Juice 1 tsp Cinnamon
In a small bowl, stir together the cornstarch and water until smooth. Pour the slurry into the peaches and continue cooking for 1–2 minutes, stirring frequently, until the juices thicken and become glossy. Remove the pan from the heat and add to a bowl and let it cool completely. Refrigerate until ready to assemble the cake - be sure to allow it to cool completely. 1 1/2 tbsp Cornstarch2 tbsp Water
Just before serving, make the whipped cream. Add the cold heavy cream, powdered sugar, and vanilla extract to a large mixing bowl. Beat on medium-high speed until thick, fluffy, and able to hold medium-stiff peaks. Be careful not to overwhip the cream. 1 1/2 cups Heavy Cream1/3 cup Powdered Sugar 1 tsp Vanilla Extract
Once the cake is thoroughly chilled and the milk has soaked in, spread the whipped cream evenly over the top. Use a slotted spoon to scoop the peaches onto the whipped cream - leave behind as much of the juices as possible. Use the peach juices to spoon on top of the cake just before serving.
Keep the cake refrigerated until ready to serve.
Notes
*for the milk mixture, I recommend mixing the milks together, starting with a 1/3 can of sweetened condensed milk. Taste it, then add more as needed, it can become too sweet if you add too much.