Preheat the oven to 325°F. Grease three 8-inch cake pans or line them with parchment paper for easy release.

In a mixing bowl, combine cake flour, vanilla pudding mix, baking powder, baking soda, kosher salt, and nutmeg; set aside.

In a stand mixer bowl fitted with the paddle attachment, cream salted butter, sugar, brown sugar, and vegetable oil on medium speed for about 3 minutes until fluffy. Scrape down the sides and mix for another 2 minutes.

Lower the mixer speed and add eggs one at a time, ensuring complete incorporation before adding another. Scrape the bowl after each addition.

In a separate bowl, whisk together buttermilk, sour cream, vanilla extract, butter emulsion, and almond extract until combined.

Gradually add half of the dry ingredient mixture into the batter while mixing just until combined. Slowly add the buttermilk mixture and then the rest of the dry ingredients until the batter is smooth.

Divide the batter evenly between the three prepared cake pans and bake for 40-45 minutes. Use a toothpick to ensure the center is clean before removing.

While the cakes cool, begin preparing the caramel frosting. Melt salted butter in a saucepan over medium heat; whisk in the brown sugar until well combined.

Add evaporated milk and sweetened condensed milk, reducing heat and stirring constantly until the mixture thickens and turns a deep golden brown — about 40 minutes.

Remove from the heat, whisk in vanilla bean paste, baking soda, and heavy cream, stirring for three minutes, and let the frosting cool for 20-30 minutes.

Once the cakes are cool, stack them, spreading a layer of caramel frosting between each layer. Allow the cake to set for 10 minutes before covering the entire cake with remaining caramel.