To make the cake:
Preheat your oven to 350 degrees and grease a 9 x 13" baking pan. In a bowl, whisk together the flour, baking powder, choco milk, cocoa powder and salt.
Combine the yolks and sugar in a stand mixer bowl and beat the mixture on high with the paddle attachment until the mixture is pale yellow and doubled in volume.
Add the vanilla and milk and mix on low speed just until combined. Fold into the flour mixture.
Clean and dry your stand mixer bowl, add the egg whites, and beat with the whisk attachment on high speed until stiff peaks form. Fold into the batter.
Pour the batter into the prepared pan and bake for 18-20 minutes or until a toothpick inserted into the center comes out clean. Let cool completely.
In a large measuring cup, whisk together the condensed milk, evaporated milk, whole milk and Kahlúa.
Using a toothpick, poke holes in your cake and pour the milk mixture over your cake. Refrigerate and let chill for at least two hours before serving.
To make the topping:
Beat all the ingredients in the bowl of a stand mixer fitted with the whisk attachment on low speed until combined then bump up the speed to medium high and beat until you get firm peaks.
Spread the topping evenly over your cake, garnish with Maraschino cherries, and dust on choco milk powder over your cake.