Arrange rack in the center of the oven; preheat to 350°.
Grease two 9’’ cake pans, with a piece of parchment lining the bottom.
In a medium bowl, whisk together eggs and vanilla extract. Set aside.
In a separate bowl, whisk together sour cream and milk. Set aside and bring to just about room temperature.
In a large mixing bowl, using a whisk, combine the flour, sugar, baking powder, salt, and baking soda—stir until all ingredients are incorporated. You can also do this in a stand mixer.
Insert the paddle attachment to a stand mixer and add the flour mixture. On a low speed, add in two sticks of room temperature butter to the dry ingredients. When butter is mostly incorporated, add in the neutral oil and continue mixing—the batter will be clumpy.
On a medium-low speed, add half of the sour cream and milk mixture, to the batter. Beat on medium speed, until incorporated, then add the rest. Beat until mostly smooth.
Begin to add egg mixture in two additions on medium-high speed, making sure the batter is well mixed before adding the second addition. Beat until combined and smooth.
Continue to beat on medium-high speed until mixture is thick and uniform, 2 minutes.
Finally, mix in the sprinkles on low speed until just incorporated.
Portion out the batter evenly into the prepared cake pans. Place in the oven and bake until the cakes have domed and are a light, golden color on the top—this takes 25-28 minutes, depending on your oven and altitude. When a tester is inserted into the center, it should come out clean, and the center should spring back when touched.
When cakes are done, remove from oven and place on a wire rack to cool. Use a blade around the edges of the pan to ensure the cake releases, then place a wire rack on top and flip the cake out.
While the cakes cool, make the frosting: Beat together the butter and sugar until fluffy and creamy. Add the vanilla and salt and continue beating to combine. Taste and add more powdered sugar if needed.
After cakes have cooled, level off the domed tops with a serrated knife or cake leveler to make two flat cakes. (Save the tops for a little snacking cake!)
Using a piping bag with a wide open tip, fill with about 1/3 of the frosting and pipe outward in a circular pattern from the center of the cake. Using an offset spatula, gently push and smooth the frosting out, then place the second cake on top, cut side down, and press gently. Use any remaining frosting in the bag to fill the gap between the layers.
Add the remaining frosting to the top and sides of the cake—because the frosting is dense, I tried to leave the sides of the cake with a thinner layer, but follow your heart.
Finally, add the remaining sprinkles to the top of the cake.
Refrigeration overnight will help the cake to solidify, making it easier to cut, but I’m sure that it could be served with only a few hours of refrigeration. Enjoy!
Notes
Make your own cake flour: 2 cups cake flour = 1 3/4 cups all-purpose flour + 1/4 cup cornstarch