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1
Preheat the oven to 350F.
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2
Butter two 9 x 2-inch round cake pans.
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3
Line the bottom with parchment paper; butter the parchment and sides of the pan; dust with flour, tapping out excess.
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4
Set aside.
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5
Sift together the flour, baking powder, and salt into a medium bowl; set aside.
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6
In another bowl, combine the milk and vanilla, and set aside.
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7
Beat the butter in the bowl of an electric mixer fitted with the paddle attachment until it is creamy.
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8
With the machine running, add the sugar in a steady stream; continue beating until the mixture is light and fluffy, about 3 minutes.
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9
Reduce speed to low.
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10
Add the flour mixture in 3 batches, alternating with the milk mixture and starting and ending with the flour.
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11
Be careful to avoid overbeating; set aside.
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12
In a clean bowl of an electric mixer fitted with the whisk attachment, beat the egg whites until stiff peaks form.
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13
Gently fold one-third of the whites into the batter to lighten, and then fold in the remaining whites in 2 batches.
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14
Divide the batter between the prepared pans, and smooth the tops with an offset spatula.
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15
Bake until a cake tester inserted in the centers comes out clean and the cakes spring back when pressed lightly in the center, about 40 minutes.
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16
Transfer the pans to a wire rack; let cool 15 minutes.
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17
Brush the rack with butter.
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18
Loosen the sides of the cake with a paring knife; invert onto the greased rack.
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19
Reinvert the cake to prevent it from splitting; let cool completely.
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20
Using a serrated knife, slice the domed tops off the cakes; discard.
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21
Place 1 layer cut side up, on a serving platter; spread a layer of caramel frosting on top.
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22
Stack the second layer, cut side down, on top; generously spread the top and sides of both cakes with frosting.
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23
To serve, cut into wedges.
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24
Bring 4 cups sugar and the water to a boil in a medium saucepan over medium heat, stirring until the sugar has dissolved, about 8 minutes; wash down the sides of the pan with a pastry brush dipped in water to prevent crystals from forming.
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25
Raise heat to high; gently swirl the pan (do not stir) until the caramel is a deep amber color, about 10 minutes.
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26
Remove from heat.
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27
Meanwhile, heat the cream and remaining cup sugar in a small saucepan over medium heat until the sugar dissolves, stirring frequently, about 5 minutes.
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28
Turn off heat; cover, and set aside.
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29
As soon as the caramel is the desired color, add the hot cream mixture in a slow, steady stream, stirring to combine.
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30
Be careful, as the caramel may splatter when the hot cream is added.
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31
Stir in the vanilla, and continue stirring until the mixture no longer bubbles.
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32
Prepare an ice-water bath.
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33
Transfer the mixture to the bowl of an electric mixer, and place in the ice bath, stirring until it is cool.
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34
Transfer the bowl to the mixer; using the paddle attachment, beat on medium speed 5 minutes.
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35
With the machine running, gradually add the butter, a few pieces at a time, beating to incorporate fully.
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36
Let the frosting stand 20 minutes to thicken before using.
