Pre-heat oven to 350 degrees.

Liberally spray a 9x13 baking pan with non-stick cooking spray.

In a bowl whisk together flour, baking powder and salt, set aside.

In two large bowls separate eggs. Egg whites in one bowl and egg yolks in another bowl.

Beat egg whites until soft peaks form, about 2 to 3 minutes on high speed.

Slowly add 1/4 cup sugar on high speed until egg whites firm up, about 1 to 2 minutes, set aside.

Remove beaters, wash and dry thoroughly.

Beat egg yolks with remaining 3/4 cup of sugar on medium until egg yolks are light and creamy, about 3 minutes.

Reduce speed to low add milk and vanilla and beat until just combined, an additional minute.

Gently fold in dry ingredients into the egg yolk mixture until combined, then gently fold in egg whites until combined.

Pour batter into prepared baking pan.

Bake for 18-20 minutes, or until toothpick inserted in comes out clean.

Allow cake to cool for 10 minutes.

In a bowl combine sweetened condensed milk, evaporated milk, and heavy cream, stir.

Using a fork poke holes in cake. Slowly pour milks over the cake, starting from one end of cake to the other end.

Cover with plastic wrap and place in fridge to chill for 3 hours or overnight.

To a bowl add diced peaches and sugar, stir to combine. Let stand for 10 minutes, stirring occasionally to dissolve sugar.

Beat heavy cream and vanilla extract on high until foamy, gradually add powdered sugar until light and fluffy.

Spread whipped topping over cake and top with diced peaches.