Preheat your oven to 170C / 340F (fan off), 150C / 300F (fan on). Position your rack in the middle of the oven.
Spray the bottom (not sides) of two 20cm / 8-inch cake tins with oil spray and line the bottom with baking paper.
In a medium sized bowl, whisk together the flour, baking powder and salt. Set aside.
Add the eggs to a large mixing bowl and use an electric hand mixer to beat until frothy, about 1 minute. With the mixer on medium-high speed, add the sugar a spoonful at a time. Once all the sugar is added, keep beating on medium-high speed for 6 minutes until the mixture is pale, thickened, and tripled in size.
Add half the dry ingredients to the egg mixture and mix on low speed until just combined. Repeat with the rest.
Heat the milk and butter in a saucepan over medium heat, stirring continuously, until it reaches about 60C/140F or small bubbles form around the edges. Do not let it boil.
Add half the hot milk mixture, along with the oil and vanilla. Mix on low speed until combined. Add the rest of the milk mixture and mix again until smooth.
Divide the batter evenly between the two cake tins. Tap each tin on the counter a couple times to release any air bubbles.
Bake on the middle rack for 30–32 minutes, or until a toothpick inserted in the center comes out clean.
Let them cool in the tins for 10 minutes, then run a knife around the edges to loosen. Transfer to a cooling rack and let them cool completely.
To layer the cake, peel the baking paper off each cake layer before assembling. Spread a small dab of frosting on your serving plate or cake board, then place the first cake layer on top. Evenly spread ⅓ of the frosting over it. Place the second cake layer on top and press down gently.
Spread a light coat of frosting over the top and sides of the cake for a crumb coat.
Spread the remaining frosting over the top and sides of the cake. Finish with sprinkles around the top edge and base of the cake
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