Preheat oven to 350°F. Grease and flour a 9x13 inch baking pan, set aside.

In a medium bowl, combine the flour, baking powder and salt, set aside. In a large mixing bowl whip together the egg whites, along with the cream of tarter (or lemon juice) until soft peaks form, about 5 to 7 minutes.

In a separate mixing bowl, beat the egg yolks until somewhat thick and pale. Add the granulated sugar and beat on high, for about 5 minutes, until very thick and ribbons fall when you lift the beaters. Stir in the vanilla extract, almond extract and water, until smooth. Add the flour mixture and stir until just combined. Fold in the egg whites, a little at a time, making sure to not over mix.

Pour batter into prepared baking pan and bake for about 25 to 30 minutes, or until a toothpick inserted in the middle comes out clean. Remove from the oven and allow to cool completely on a wire rack.

Whisk together the tres leches ingredients, in a medium bowl. Using a wooden skewer, poke holes all throughout the cooled cake. This will allow for the milk mixture to seep in. Pour the milk, evenly, over the cake. Cover with plastic wrap and allow to chill in the fridge for about 3 hours, or overnight.

Make the frosting by beating the heavy whipping cream along with the sugar and vanilla extract, until soft peaks form. Spread the whipped cream over the chilled cake. Decorate it anyway you'd like. Make a decorative border with the remaining whipped cream. Sprinkle with sprinkles and/or top each slice with a cherry. Leftovers will keep in the fridge, covered, for a few days. Enjoy!