Preheat oven to 350 degrees. Grease and flour 3 (9-inch) round cake pans.
In a large bowl, combine cake ingredients. Beat with an electric mixer on medium speed until smooth.
Divide the batter evenly between the prepared pans. Bake for 17-20 minutes, or until a toothpick inserted in the center comes out clean. Cool in pans for 10 minutes before turning onto wire racks to cool completely.
Meanwhile, make the frosting: in a medium bowl, beat the heavy cream until very stiff peaks form.
In a separate large bowl, beat the softened cream cheese with an electric mixer on high speed until light and fluffy.
Add the sugar and vanilla to the cream cheese and beat until well combined.
Gently fold the strawberries into the cream cheese mixture. The frosting will turn slightly pink. Mix until the frosting is a uniform color.
Fold the whipped cream into the frosting in two batches.
Spread 1 1/2 to 2 cups frosting over the top of one cake layer (don’t be afraid to be generous). Place another cake layer on top and repeat.
Place the third cake layer on top and frost the top and sides of the cake with the remaining frosting. Garnish with additional fresh strawberries, if desired.
Refrigerate until serving. Keep leftover cake in the refrigerator.