Separate the egg whites and yolks into two bowls.
In the bowl with yolks, whisk together milk and vanilla extract. Sift in flour and baking powder; mix until smooth.
Beat egg whites on medium speed until foamy; gradually add sugar until stiff peaks form.
Gently fold one-third of the egg whites into the yolk mixture, then gradually fold in the remaining whites.
Preheat a nonstick skillet on low heat and lightly grease it. Pour batter into ring molds and cover; cook for 4-5 minutes before flipping.
Cook until golden brown on both sides and serve warm with your favorite toppings.
