Preheat oven to 175 degrees C (350 degrees F).
Butter and flour bottom of a 9-inch springform pan.
Beat the egg yolks with 3/4 cup sugar for 1 minute.
Stir in milk, 1 teaspoon vanilla, flour and baking powder.
In a small bowl, beat egg whites to soft peaks.
Slowly add 1/4 cup sugar.
Beat until firm.
Gently fold 1/3 of the egg whites into the yolk mixture to lighten it.
Fold in remaining egg whites.
Pour batter into the prepared pan.
Bake in preheated oven for 45 to 50 minutes, or until toothpick comes out clean.
Allow to cool 10-15 minutes.
Run a knife along the edge of cake before removing from pan.
Let the cake cool completely.
Place cooled cake on a deep serving plate.
Use a fork or toothpicks to pierce the cake in several places.
Mix together condensed milk, evaporated milk and 1/4 cup of the whipping cream.
Set aside 1 cup of the measured milk mixture and refrigerate for another use.
Pour remaining milk mixture over cake slowly until absorbed.
Whip the remaining whipping cream, 1 teaspoon vanilla, 2 tablespoons sugar until it thickens.
Frost cake with whipped cream and garnish.
Store cake in the refrigerator until ready to eat.