Half an hour before making the cakes: separate the egg whites from the egg yolks and allow them to stand at room temperature. In a big mixing bowl beat with an electric mixer the egg yolks for 5 minutes on high. Add the vanilla and almond extracts, and milk; beat on low until combined. Gradually beat in the 1 cup of sugar at low speed (add 2 tablespoons at a time). Increase to high speed; beat until mixture thickens and doubles in volume (about 5 minutes).
Store in the refrigerator until ready to serve.