Position a rack in the middle position of the oven, and preheat to 350 degrees F.
Grease and flour a 9×13 baking pan. Set aside.
In a small bowl, sift together the flour and baking powder. Set aside.
In the bowl of a stand mixer fitted with a paddle attachment, cream the butter and 1 cup of the sugar on low until fluffy. Add eggs one at a time until each is fully combined. Add 1/2 teaspoon vanilla extract and beat well.
Using a rubber spatula, fold the flour mixture into the butter mixture 2 tablespoons at a time.
Mix the batter until well blended.
Pour the batter into the prepared pan. Use an offset pastry spatula to spread the batter evenly in the pan.
Bake until a cake tester comes out clean, about 30 minutes.
Using a fork, pierce the top of the cake repeatedly roughly every inch or so.
Set cake aside to cool completely.
In a medium bowl, combine the whole milk, condensed milk and evaporated milk. Pour the milk mixture over the cooled cake.
In the bowl of a stand mixer fitted with a whisk attachment, whip the cream, remaining 1 cup sugar and remaining 1 teaspoon vanilla extract.
Spread the cream mixture over the top of the cake.
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