Start by preheating the oven to 330F. Line an 11 by 7 inch baking pan with parchment paper or grease with butter.
Using an electric hand whisk or stand mixer, beat the egg whites in a clean large bowl for 2 minutes until fluffy and doubled in size. Add in the lemon juice and beat for an additional 2 minutes until soft peaks are formed.
In a separate medium bowl, beat the egg yolks with the vanilla and the sugar until pale yellow. Add the milk and mix to combine.
Sift the flour and the baking powder into the egg yolk mixture and fold with a spatula until no more flour clumps can be seen, being careful not to over mix as this build up the gluten in the flour and creates a tough cake.
Add ¼ of the egg whites to the egg yolk mixture and mix to combine. Add the egg yolk mixture to the rest of the egg whites and fold with a spatula until the batter is fully combined and no white streaks can be seen.
Pour the cake batter into the prepared baking pan and bake for 30-35 minutes, until a toothpick inserted in the middle comes out clean.
In a small saucepan, add the sugar and melt over medium to medium high heat for a maximum of 5 minutes. As the sugar starts to melt, take a spatula or wooden spoon and push the sugar from the middle to the outer edges, bringing the melted outer edges in. This helps to allow the sugar to melt evenly. The sugar will melt and turn golden.
Take the pan off the heat and add the butter, whisking continuously to combine. Bring the pan back on the heat and add the whipping cream. Be careful as the mixture may splatter. It will look like the caramel is seizing and separating but continue mixing and it will come back together. Boil for 1 minute then set aside in a glass jar to cool to room temperature.
In a medium bowl or measuring cup, mix together the milk, condensed milk and evaporated milk.
After the cake has cooled for 5 minutes, poke the cake with a fork all over the surface to create tiny holes for the soaking mixture to soak into.
Pour over the milk mixture. It may seem like a lot but it will continue to soak into the cake as it rests. Cover the cake with plastic wrap and chill in the fridge for a minimum of 1 hour or until serving.
Before serving the cake, whip the whipping cream with the sugar in a large bowl to form soft peaks. Spread the whipped cream over the cake and level with a spatula to form a flat surface.
Slowly and carefully drizzle the cooled caramel sauce over the cream layer and spread or swirl with a toothpick. Serve immediately.
