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For Chocolate Buttercream Frosting: In the bowl of an electric mixer, blend butter, shortening and sugar with the paddle attachment until creamy.
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Add the cocoa to the butter mixture along with the milk and extract.
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Continue to mix until well combined.
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Turn off the mixer and gently fold in chocolate chips with a spatula.
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Set frosting in the refrigerator to firm up to a spreadable consistency while the cake is prepared.
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Preheat oven to 350 degrees F. Coat 2 (9-inch) round cake pans with nonstick cooking spray, including sides.
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Cut a sheet of parchment paper to fit the pan bottoms and lay in place.
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Then spray the paper.
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Sift together the flour, baking powder and salt, set aside.
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In a large mixing bowl, cream the butter until smooth.
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Gradually add the sugar and beat until light and fluffy.
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Beat in the eggs, a little at a time.
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Stir in the vanilla until well blended.
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Scrape down the sides of the bowl.
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Gradually mix in the dry ingredients in 3 batches, alternating with the milk.
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Beat for 1 minute after each addition to incorporate the ingredients and strengthen the cake's structure.
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Mix until the batter is smooth.
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Pour the batter into the prepared pans and smooth the surface with a spatula, the pans should be 2/3 full.
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Place pans on the middle rack of the oven and bake for 20 to 25 minutes, or until a knife inserted in the center comes out clean and the cake springs back when touched.
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Let the cakes cool in the pans for 10 minutes, then turn them out onto a wire rack, peel off the paper and let cool for at least 1 hour.
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Level the tops of the cakes with a serrated knife if domed in the middle.
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To divide each cake in half to give 4 layers: cut a vertical notch on the side of the cakes so you can easily line up the layers when assembling.
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Place one hand flat on top and the serrated blade along the side of the cake.
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Rotate the cake against the knife as you slice.
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Carefully separate the layers and brush away any loose crumbs.
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To make sugar glaze: combine sugar, water and rum in a small saucepan.
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Boil for 2 to 3 minutes.
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Brush the sugar glaze on the cake layers to moisten and add extra flavor.
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Put a cardboard cake round or plate on a lazy Susan; so it easier to turn and frost the cake.
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Lay 1 cake layer on the plate.
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With a metal spatula, spread about 1/2 cup of chocolate buttercream frosting on top of the base.
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Carefully place another cake layer on top.
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Do this for the remaining 2 layers.
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Frost the top and sides of the cake thoroughly.
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Refrigerate for 45 minutes before decorating or cutting.
