Preheat the oven to 325 degrees F. Grease and line two 9 inch cake pans with parchment paper.
Soak cake strips in ice water.
In the bowl of a stand mixer fitted with the paddle attachment, combine the flour, brown sugar, baking powder, salt, and spices.
Cut up the butter into small cubes and add to the dry ingredients. Mix on low speed until it resembles wet sand.
Add the oil, milk, eggs, and vanilla, and mix until just combined.
Divide the cake batter between the prepared pans. Wrap the cake strips around the outside of the pans.
Bake for 35-40 minutes or until a toothpick inserted comes out clean. Immediately turn the cakes out onto a wire rack to cool completely.
Once cool, wrap the cakes in plastic wrap and freeze until ready to decorate.
For the cream cheese frosting
In the bowl of a stand mixer fitted with a paddle attachment, beat the butter and cream cheese on high speed until smooth. Slowly add the sifted powdered sugar and mix on low speed until fully combined.
Continue beating on low speed until no more lumps or pockets of air remain and the frosting is smooth.
For assembly
Secure the first cake layer on the cake stand with a small amount of frosting on the bottom. Using an offset spatula, spread on an even layer of frosting, then place the second cake layer on top.
Finish decorating the cake as desired. Sprinkle a small amount of cinnamon on top, and serve!