Preheat oven to 350°F.
Prepare two 8-inch cake pans by greasing with shortening, lining the bottom with parchment, greasing with shortening again & then flouring & shaking out the excess.
Blend milk, egg whites, & extracts in a medium bowl until fully combined.
Slowly mix cake flour, sugar, baking powder, & salt in the bowl of electric mixer.
Add the cubed butter, & beat on low, 1-2 minutes.
Add milk mixture to dry ingredients & beat on medium, about 3 minutes.
Pour batter evenly between the two prepared cake pans.
Bake until a toothpick test comes out with just a few crumbs, about 27 to 30 minutes.
Cool cakes in pans for about 5 minutes.
Carefully flip the cakes out onto a wire cooling rack & continue cooling until they reach room temperature.
I like to then freeze my cakes before decorating because it makes the frosting spread easier. But you can frost them at room temperature if you like.