Preheat the oven to 350 degrees (180 degrees F).
Grease and line three 6 inch cake pans with parchment paper.
Soak cake strips in ice cold water.
In the bowl of a stand mixer fitted with the paddle attachment, combine the flour, sugar, baking powder, and salt.
Cut up the butter into small cubes and add to the dry ingredients. Mix on low speed until it resembles wet sand.
Add the oil, milk, and vanilla, and mix until just combined.
In a separate bowl, whip the egg whites to medium peaks. Gently fold it into the batter with a rubber spatula until just combined.
Lastly, add the sprinkles and mix until evenly distributed.
Divide the cake batter between the prepared pans. Wrap the outsides of the pans with the cake strips.
Bake the cake layers for 40-45 minutes or until a tooth pick inserted comes out clean.
Turn the cakes out onto a wire rack to cool completely. Once cool, wrap in plastic wrap and leave at room temperature or in the freezer until ready to decorate.