- Cream Cheese and Butter: In a large mixing bowl, beat the softened cream cheese and softened butter together until smooth and creamy.
- Add Extracts: Mix in the vanilla extract and almond extract.
- Add Powdered Sugar and Salt: Gradually add the powdered sugar and salt to the cream cheese mixture, beating on low speed until the sugar is incorporated. Then, beat on medium speed for 5 minutes until the frosting is light and fluffy.
Assembly:
- Level Cake Layers: If the cake layers have a dome, use a serrated knife to level them.
- First Layer: Place the first cake layer on a cake plate or serving dish. Spread about 1 cup of the cream cheese frosting evenly over the top.
- Second Layer: Carefully place the second cake layer on top of the frosting. Spread another 1 cup of frosting evenly over this layer.
- Third Layer and Crumb Coat: Place the final cake layer on top. Apply a thin layer of frosting (crumb coat) over the entire cake to seal in any crumbs. Chill the cake in the refrigerator for 15 minutes to set the crumb coat.
- Final Frosting: Frost the entire chilled cake with the remaining cream cheese frosting.
- Decorate: Press the combined toasted and finely chopped pecans and toasted coconut around the bottom half of the cake. Pipe a decorative border on the top edge of the cake, if desired. Garnish the top of the cake with pecan halves.
- Chill and Serve: Chill the assembled Italian Cream Cake in the refrigerator for at least 30 minutes to allow the frosting to set before slicing and serving. Enjoy this classic Southern delicacy!