Preheat the oven to 350 degrees Fahrenheit. Spray a 9x13 pan with cooking spray.
Add all of the cake ingredients into a large bowl. Blend using a hand mixer on low speed for 1 minute, then on medium-high speed for 2 minutes.
Pour the batter into the prepared pan.
Bake for 30-35 minutes or until the cake bounces back when you touch it. Allow the cake to cool on a wire rack.
Make the Frosting:
Add the dream whip, pudding mix and milk into a mixing bowl. Beat the ingredients, scraping the sides of the bowl as needed, until it holds stiff peaks (about 5 minutes).
Once the cake is cool, frost the cake.
Store the cake covered in the refrigerator.
The calories shown are based on the cake being cut into 15 pieces, with 1 serving being 1 slice of cake. Since different brands of ingredients have different nutritional information, the calories shown are just an estimate.