Preheat your oven to 170°C and grease a 15 cm * 20 cm pan with some oil and sprinkle flour to prevent sticking.
Separate the 3 eggs into 2 bowls (egg whites and egg yolks). With your hand or electric mixer, beat the egg yolks with 1/4 cup sugar on high speed for 2-3 mins until pale and fluffy.
Add the milk and vanilla and mix again. Add the flour, baking powder and salt and switch to a spatula to mix them into the batter.
Clean your mixer and start whipping the egg whites until foamy. Start adding the remaining 1/4 cup sugar gradually until the egg whites reach stiff peaks.
Gently FOLD the stiff egg whites into the cake batter using a spatula or a spoon.
Pour the batter into the prepared pan and bake in preheated oven for 18-20 mins or until a toothpick inserted in the middle of the cake comes out clean.
When done, turn the oven off, open the oven door a bit and let the cake cool gradually for 20 mins. After that, remove from oven and poke holes in it using a fork before pouring the milk mixture on top.
In a bowl, mix the milk, cream and condensed milk all together. Pour it over the cake, let the cake cool completely then refrigerate overnight (or for 2 hours if you don't have the time).
With your mixer, whip the heavy whipping cream with vanilla and sugar. Put it on top on the soaked cake and decorate with whatever you like and enjoy! I added candied cherries!