Place the rice, water and salt in a medium saucepan and bring to a simmer. Cover tightly with lid, lower flame and cook until tender, about 18 to 20 minutes. Turn off the flame and do not open the lid. Allow to rest for 10 minutes.

In a large saucepan, whisk together the egg, evaporated milk, condensed milk, and whole milk. Add in the rice and cook over medium-low heat. Bring to a simmer and cook, stirring often, until the pudding as thickened, about 20 to 25 minutes.

Remove the pot from the heat and stir in 1 teaspoon vanilla, almond extract and butter until melted through and silky smooth. At this point you can either cool the pudding a bit and then store in the fridge until chilled through, or you can eat it warm. Right before serving, beat the cream with the remaining vanilla and powdered sugar until soft peaks form. Spoon the pudding into serving glasses and top with a dollop of fresh whipped cream, sprinkles and a cherry. Enjoy!