Preheat oven to 350°F. Spray a 9” square pan with nonstick cooking spray, or butter and flour it.
Whisk flour, baking powder, and salt in a medium bowl.
Add oil and SPLENDA to a large bowl and with hand mixer or stand mixer, until thick and yellow. Add eggs one at at time, beating after each addition. Beat in vanilla extract, lime juice, and zest.
Add the flour mixture and milk alternately, starting and ending with the flour. Don’t over mix! Pour batter into prepared pan.
Bake for 25-35 minutes until a toothpick comes out clean. Note: the cake will look a bit different when done than a normal cake does; this is because of the sugar substitute. Use the toothpick to test doneness.
While the cake is baking, make the glaze by heating the lime juice and SPLENDA in a small pan over medium heat. Cook just until it starts to boil, stirring to make sure the sugar is dissolved. Remove from heat and cool until the cake is done.
When the cake comes out of the oven, poke several tiny holes all over the top of the cake with a toothpick. Pour the glaze over the top. Cool completely before frosting.
Make the whipped cream frosting: beat cold heavy whipping cream until stiff peaks form, slowly adding the SPLENDA and lime zest during mixing. Frost the top of the cake and sprinkle with more lime zest and/or lime slices.
Best served the day it’s frosted with the whipped cream, but the cake can be made up to 24 hours in advance (cover cooled cake tightly with plastic wrap and store on the counter). Frost just before serving.