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For the milk crumbs:
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Preheat oven to 275u00b0F. Line a half sheet pan with parchment paper.
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Combine milk powder, flour, sugar, cornstarch, and salt in medium bowl and whisk together. Stir in melted butter with a fork until clusters form.
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Pour mixture and spread evenly on sheet pan. Bake for about 10 minutes until crumbs are dry and crumbly but still pale.
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Cool milk crumbs completely on sheet. Can be made 1 week ahead. Store in airtight container at room temperature.
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For the chocolate malt crumbs:
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Mix milk crumbs and Ovaltine in a small bowl. Melt white chocolate in a microwave-safe bowl, 15 seconds at a time, until just melted. Drizzle chocolate over crumb mixture. Stir to coat.
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For the malt fudge sauce:
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Place Ovaltine, bittersweet chocolate, light molasses and salt in a medium bowl; set aside. Bring cream, corn syrup, and sugar to a boil in a saucepan, stirring until sugar is dissolved. Pour cream mixture over chocolate mixture in bowl. Let stand 1 minute to melt the chocolate, then stir until smooth. Whisk until sauce is glossy, about 1 minute. Can be made 1 week ahead of time, just cool completely. Cover and refrigerate. Rewarm in microwave 30 seconds at a time just until pourable before using.
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For the cake:
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Preheat oven to 350u00b0F. Coat three 9-inch cake pans with nonstick cooking spray. Line bottom of each pan with parchment round and coat parchment with nonstick cooking spray.
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Melt bittersweet chocolate in small microwave-safe bowl, 15 seconds at a time, until just melted. Set aside.
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Sift flour, cocoa powder, baking powder, and salt into medium bowl and set aside. Combine butter, sugar, and corn syrup in bowl of a stand mixer fitted with paddle attachment. Beat on medium-high speed until fluffy and pale, about 2 minutes. Scrape down sides of bowl. Add eggs and beat on low speed to incorporate, then increase speed to medium-high and beat until mixture is light and fluffy, about 2 minutes.
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Scrape down sides of bowl. Add melted chocolate. Beat until blended, about 1 minute. Add buttermilk, oil, and vanilla and beat on medium-high speed until pale brown, about 2 minutes. Add dry ingredients and beat on low-speed just until blended, about 45 seconds. Divide batter among three 9-inch cake pans and smooth tops.
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Bake cakes 15-20 minutes or until an inserted toothpick comes out clean. Cool completely in pans on wire cooling racks.
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Stir milk and Ovaltine together in a small bowl. Invert 1 cake, top side down, from pan onto a flat surface (like the bottom of a springform pan) and peel off parchment. Brush cake with 2 1/2 tablespoons of the Ovaltine-milk mixture. Let Ovaltine-milk mixture soak into the cake for 1 minute. Drizzle about a 1/2 cup malt-fudge sauce over the cake, so it coats the entire top of the cake. Spread out evenly. Sprinkle 1/2 cup chocolate malt crumbs over sauce. Drizzle another 1/3 cup malt-fudge sauce over crumbs. Scatter 1 cup mini marshmallows on top of the crumbs. Using a kitchen torch, toast marshmallows. Repeat the entire process with second cake layer, Ovaltine-milk mixture, malt-fudge sauce, chocolate-malt crumbs, malt-fudge sauce, and marshmallows.
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Remove third cake from pan and peel off parchment. Place cake, top side down, on top of the marshmallows of the second cake layer. Brush with remaining Ovaltine-milk mixture. Cover cake and remaining fudge sauce with plastic wrap and refrigerate overnight. Pop the leftover chocolate milk crumbs in an airtight container and store overnight at room temperature.
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Once chilled overnight, place cake (still on springform pan bottom) on a cake serving plate. Rewarm sauce in the microwave, 30 seconds at a time, until just pourable. Pour over top of cake, allowing the sauce to drip over edges. Add a handful of marshmallows in center of cake. Using kitchen torch, toast marshmallows. Sprinkle the remaining malt crumbs over cake. Let cake stand at room temperature 3 hours before serving.
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Cut cake into wedges and serve.
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Recipe adapted from Christina Tosi.
