Preheat oven to 350 degrees. Butter and line two 9-inch round cake pans. Line bottoms with parchment paper, butter parchment, dust with flour and shake out excess. Wrap pans with cake strips (I use THESE - affiliate link)****.
Sift cake flour into a medium mixing bowl. Add baking powder and salt and whisk together.
In the bowl of an electric stand mixer cream butter and sugar until very pale and fluffy. Scrape down sides and bottom of mixer bowl with a rubber spatula.
Mix in vegetable oil. Then mix in the 2 egg yolks, scrape down mixer bowl. Blend in vanilla and almond extract. Set aside.
In a separate clean medium mixing bowl using an electric hand mixer whip 6 egg whites (2 from the whole eggs listed, 4 from egg whites listed) on high speed until medium-stiff peaks form (tips of peaks should just droop slightly).
Add 1/3 of the flour mixture to butter mixture in stand mixer, mix just until combined. Add 1/2 of the milk and mix just until combined. Add another 1/3 of the flour mixture mix just until combined, followed by remaining 1/2 milk mixture mixing just until combined. Add in last 1/3 of the flour mixture and mix just until combined.
Remove bowl from stand mixer. Add egg whites and sprinkles and gently fold batter with a rubber spatula just until combined.
Divide mixture among prepared pans, pour and spread into an even layer.
Bake in preheated oven until toothpick inserted into the center comes out clean, about 30 - 35 minutes.
Cool in pan about 20 minutes, then run knife around edges of cake to loosen and invert onto wire racks to cool completely.
Once cool frost with buttercream frosting. If adding sprinkles over frosting add right away before it starts to develop a lightly dry outer crust. Store cake in an airtight container in a cool temperature (or chill for longer shelf life).