Preheat oven to 350 degrees F (175 degrees C). Butter and flour bottom of a 9 inch springform pan.
Beat the
egg yolks with 3/4 cup sugar until light in color and doubled in
volume. Stir in milk, vanilla, flour and baking powder.
In a small
bowl, beat egg whites until soft peaks form. Gradually add remaining
1/4 cup sugar. Beat until firm but not dry. Fold egg whites into yolk
mixture. Pour into prepared pan.
Bake at 350 degrees F (175 degrees C) for 45 to 50 minutes or until cake tester inserted into the middle comes out clean. Allow to cool 10 minutes.
Loosen edge
of cake with knife before removing side of pan. Cool cake completely;
place on a deep serving plate. Use a two prong meat fork or cake tester
to pierce surface of cake.
Mix
together condensed milk, evaporated milk and 1/4 cup of the whipping
cream. Discard 1 cup of the measured milk mixture or cover and
refrigerate. Pour remaining milk mixture over cake slowly until
absorbed. Whip the remaining whipping cream until it thickens and
reaches spreading consistency. Frost cake with whipped cream and
garnish with cherries.