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CAKE: Preheat the oven to 325.
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Butter and flour three 8-inch cake pans and line the bottoms with parchment paper.
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In a large bowl, whisk the flours with the malt powder, baking powder, baking soda, salt and nutmeg.
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In the bowl of a standing electric mixer fitted with a paddle, beat the butter with the shortening until creamy.
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Add the sugar and vanilla and beat at medium speed until fluffy, about 3 minutes.
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Beat in the dry ingredients in 3 batches at low speed, alternating with the ice water, occasionally scraping down the side of the bowl.
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In a clean bowl, beat the egg whites at medium high speed until soft peaks form.
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Fold the egg whites into the batter.
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Divide the batter between the pans, spreading it evenly and bake the cakes for 40-45 minutes until a toothpick inserted into the center comes out clean.
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Let the cakes cool in the pans for 20 minutes, then invert them onto a rack and let cool completely.
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Peel off the parchment.
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FROSTING: Place the chocolate in a large bowl.
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In a small saucepan, bring the cream to a boil, then remove from the heat.
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Add the corn syrup; immediately pour the mixture over the chocolate.
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Let stand for 2-3 minutes until the chocolate has melted, then whisk until smooth.
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Let cool to room temperature.
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Transfer the mixture to the bowl of a standing electric mixer fitted with a wire whisk.
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Gradually beat in the butter at medium speed, a few chunks at a time and beat until thoroughly incorporated between additions.
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The frosting should be smooth and silky.
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Refrigerate the frosting just until it is thick enough to hold its shape, 10-15 minutes.
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Place one cake layer on a serving platter and spread 1 1/4 cups of the frosting over the top in an even layer.
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Repeat to form 2 more layers.
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Spread a thin layer of frosting over the side of the cake and refrigerate briefly until firm.
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Frost the side with the remaining frosting.
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Garnish the cake with malted milk balls and refrigerate briefly to firm up the frosting before serving.
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The cake and be refrigerated in an airtight container for up to 4 days.
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Bring to room temperature to serve.