A Latin American cake designed to be thoroughly soaked without losing its crumb. The airy sponge absorbs a generous three-milk mixture until it becomes cold, creamy, and almost melting, while the meringue keeps each spoonful from feeling heavy. Some cakes are made for slicing; this one practically demands a spoon.

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Preheat the oven to 170°C/340°F and lightly grease the rectangular pan with the butter. Beat the eggs with half of the white sugar and half of the vanilla extract for 8 to 10 minutes, until the mixture is very pale, has roughly tripled in volume, and falls in a ribbon that remains visible on the surface for a few seconds. Sift in the flour, baking powder, and salt in three additions and fold gently with a spatula, rotating the bowl to preserve as much air as possible.
Pour the batter into the pan and level the surface without banging the pan against the counter. Bake for 27 to 30 minutes, until lightly golden, the center springs back when gently pressed, and a knife comes out without wet batter. Let it rest in the pan for 15 minutes, then pierce the entire surface with a thin knife or the end of a whisk, reaching almost to the bottom without tearing up the crumb.
While the sponge cools slightly, warm the evaporated milk, cream, cinnamon stick, and remaining vanilla extract for 3 to 4 minutes, just until warm and fragrant without boiling. Remove the cinnamon and stir in the condensed milk until the soak is completely uniform.
Pour the warm milk mixture over the sponge in 3 additions, spreading each one across the entire surface and waiting 1 to 2 minutes before adding the next. By the end, nearly all of the liquid should have sunk in and the crumb should feel heavy with milk yet still springy rather than broken down. Cover the pan and refrigerate for 90 minutes, until cold and soaked through to the center.
Place the egg whites and remaining white sugar in a clean bowl over a saucepan of barely simmering water, making sure the bowl does not touch the water. Whisk continuously for 4 to 6 minutes, until the sugar has completely dissolved and the mixture reaches 70 to 72°C/158 to 162°F. Remove it from the heat, add the lime juice, and beat with an electric mixer for 5 to 7 minutes, until the meringue is white and glossy with firm peaks and the bowl no longer feels hot.
Spread the meringue over the chilled tres leches in a soft layer without pressing it into the sponge, then finish with the ground cinnamon. Slice it directly in the pan and serve well chilled; when the spoon goes in, the crumb should be soaked all the way through while still holding together, without a large pool of milk at the bottom. And that is it—the real danger is cutting a “small” piece and coming back five minutes later for the proper one 😌