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Ingredients
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Caramel
Chocolate Cake Layer
Flan (Custard) Layer
Optional Garnish
Method
Caramel
Make the caramel
Preheat oven to 350°F (175°C). In a small saucepan over medium heat, combine 3 tablespoons granulated sugar and 1 tablespoon water. Stir initially to dissolve sugar, then stop stirring and let the mixture simmer undisturbed until it turns a deep amber (about 6–8 minutes). Watch carefully to avoid burning.
Immediately pour the hot caramel into the bottom of a 9-inch (23 cm) round cake pan or a similar flan mold, swirling to coat the bottom evenly. Set aside to harden while preparing batters.
Chocolate Cake Layer
Prepare dry ingredients
In a medium bowl, sift or whisk together 3 tablespoons all-purpose flour, 1 tablespoon unsweetened cocoa powder, 1/2 teaspoon baking powder, and 1/8 teaspoon salt until homogenous.
Combine wet ingredients
In a separate bowl, whisk 1 large egg with 3 tablespoons whole milk, 1 tablespoon vegetable oil and 1/2 teaspoon vanilla extract until smooth. Stir in 3 tablespoons granulated sugar until mostly dissolved.
Fold the dry mixture into the wet ingredients just until combined and no large streaks of flour remain. The batter will be thin; set aside.
Flan (Custard) Layer
Prepare custard
In a blender or large bowl, combine 1 cup sweetened condensed milk, 1/2 cup evaporated milk, 1/2 cup whole milk, 3 large eggs, 1 tablespoon granulated sugar and 1 teaspoon vanilla extract. Blend or whisk until smooth and fully combined. Strain the mixture through a fine mesh sieve into a pouring cup to ensure a silky texture.
Carefully pour the custard mixture over the chocolate batter in the pan. Pour slowly to avoid disturbing the cake layer.
Bake in a water bath (baño maría)
Place the filled pan into a larger roasting pan. Carefully pour hot (not boiling) water into the outer roasting pan until it reaches halfway up the sides of the cake pan (about 1–1.5 inches). Transfer to the oven preheated to 350°F (175°C). Bake for 45–55 minutes, or until the custard is set around the edges but still slightly jiggly in the center. A knife inserted near the center should come out mostly clean.
Remove the pan from the water bath and allow it to cool on a wire rack for 1 hour. Then refrigerate, uncovered, for at least 4 hours or preferably overnight to fully set.
Unmolding and Serving
Slice and serve chilled. Garnish with whipped cream and chocolate shavings if desired.