Preheat your oven to 350°F (175°C). Grease and flour a cake pan.

In a large mixing bowl, beat the eggs and sugar until light and fluffy.

Gradually add milk, vegetable oil (or melted butter), and vanilla extract, mixing until well combined.

In a separate bowl, sift together the flour, baking powder, and salt. Gradually add this dry mixture to the wet mixture, mixing until just combined.

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

While the cake is baking, prepare the cream filling by whipping the heavy cream until stiff peaks form, then fold in the sweetened condensed milk and coconut milk if using.

For the caramel topping, combine sugar, heavy cream, butter, and salt in a saucepan over medium heat. Stir until the sugar has dissolved and the mixture is smooth. Allow to simmer for a few minutes until thickened.

Once the cake has cooled, slice it in half horizontally and spread the cream filling between the layers.

Drizzle the caramel topping over the cake and top with shredded coconut or nuts if desired.