Preheat oven to 350°. Place 3 Tablespoons butter and the brown sugar in a saucepan on medium-low heat and cook while stirring, until sugar is melted and mixture liquifies. It will take about 10 minutes for it to look like a rapidly bubbling caramel sauce. Immediately pour mixture into a 9″ inch layer cake pan.
Slice the mangoes and place in a pinwheel fashion into the layer cake pan on top of the caramel mixture. Add maraschino cherries in the center or around the mango slices if desired.
In a bowl, combine flour, baking powder and salt, sifting if necessary. Set aside.
In a separate bowl, beat 1/2 cup softened butter with the white sugar until creamy. Add the vanilla, eggs and milk and beat until smooth. Add flour mixture and combine with mixer on low or a spoon just until combined and no more.
Pour cake batter by spoonfuls over the fruit in the layer cake pan and and gently spread it evenly in the pan. Bake for 40 minutes or until a toothpick inserted in the middle comes out clean.
Remove from the oven. Let cool for only 5 minutes. Run a knife around the edge of the pan. Place a cake platter over the cake pan and wearing oven mitts, carefully invert the cake onto the cake platter. Let it sit on the platter and tap the bottom of the cake pan to loosen and remove pan.
While cake is baking, make the glaze. Place the cajeta and milk in a saucepan and heat over a low flame, stirring constantly, until hot. Stir in rum and cook out the alcohol while the sauce is heating up or add the rum at the end. Drizzle the warm glaze over each slice of the cake.
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