NOTES:
Position the rack in the center of the oven and preheat to 350ºF. Butter two 8-inch cake pans and line with parchment paper. Set aside.
On a large piece of parchment, sift the flour, baking powder, and salt. Set aside.
Combine the buttermilk and vanilla in a bowl and set aside.
In a stand mixer fitted with the paddle attachment, beat the butter and sugar on medium-high until pale and fluffy. Scrape down the sides of the bowl. Turn the mixer to low and add the egg whites, then increase speed to high and beat until thick and smooth. Scrape down the sides of the bowl.
With the mixer running on low, add the dry ingredients in three parts, alternating with the buttermilk mixture, beginning and ending with the dry. Scrape down the sides of the bowl. Gently fold in the rainbow sprinkles.
Divide the batter evenly between the two prepared pans and smooth the tops flat with a rubber spatula. Give the pans a couple of light taps on the counter to deflate any overly large air pockets.
Bake on the center rack for 30 to 40 minutes, until the tops are a pale golden color and spring back a little when pressed lightly with your fingertip. Remove from the oven and allow the cakes to cool in the pans for about 10 minutes before inverting them onto wire racks to cool completely.
Make the icing:
In a stand mixer fitted with the paddle attachment, beat the butter on high speed until very fluffy and pale yellow. Turn the mixer to low and add the icing sugar. Continue to beat on low until well combined. Scrape down the sides of the bowl.
Add the milk, vanilla, and food coloring and beat again on low to combine. Turn the mixer to high and continue to beat until the icing is light and fluffy, about 10 minutes.
When the cakes are cool, use a large serrated knife to cut each one in half horizontally, making sure to keep the blade level as you cut, to create four layers in total. If that seems daunting, you can always leave the cakes as they are and make a two-layer cake. (I made 2 layer cake)
Place the bottom layer of cake on a cake board or large plate. Using an offset spatula, spread about ½ cup of the pink vanilla buttercream evenly over the cake layer. Top with the next layer and repeat until you have placed the last layer on top.
With the back of the offset spatula, smooth a thin layer of buttercream across the top and down the sides of the cake. Rotate your spatula back and forth to evenly and thoroughly coat the cake with buttercream, making sure to remove any excess. This thin layer of buttercream will act as your crumb coat, locking down any crumbs. Place the cake in the refrigerator for about 15 minutes to allow the crumb coat to set up.
Remove the cake from the refrigerator and place a large dollop of buttercream on top. Use your offset spatula to smooth the icing across the top and down the sides of the cake. Apply more icing to the sides of the cake and smooth it out with your spatula. This will cause the buttercream to build up around the top edge of the cake. Use the spatula to drag the edge of buttercream across the top of the cake, which will help create a sharp straight edge rather than a rounded one.
If you have some sprinkles left over, you can sprinkle them around the top of the cake to give people a hint of what is to come inside. Now, cut a slice and enjoy your weekend!
