Preheat oven to 350 degrees F (175 degrees C). Grease two 9-inch round cake pans.

In a large bowl, whisk together the flour, baking powder, salt, and sugar.

Add the oil, eggs, and vanilla extract and mix until combined.

Stir in the milk until the batter is smooth.

Pour the batter into the prepared cake pans and bake for 25-30 minutes or until a toothpick inserted into the center comes out clean.

Let the cakes cool in the pans for 10 minutes, then carefully remove and transfer to a wire rack to cool completely.

In a medium bowl, whisk together the sweetened condensed milk, evaporated milk, and 1/4 cup of the remaining milk.

Pour the milk mixture over the cooled cakes, making sure to evenly distribute it.

Refrigerate the cakes overnight.

Just before serving, top with whipped cream and sprinkle with ground cinnamon.