Pour condensed milk into a large bowl, cover and microwave (set to low power) for about 10 minutes, stirring every few minutes, until it is thick and slightly darker.
Stir in the evaporated milk and heavy cream. Set aside.
Preheat oven to 325°F. Butter and flour a 9×13″ baking dish.
Whisk together the flour, baking powder, salt and cinnamon in a bowl.
Heat the butter and milk until butter is melted, cool completely.
Whip the eggs (stand mixer or handheld will work), until foamy, then slowly add the sugar. Whip until thick and glossy, about 7 minutes. Reduce speed and slowly add the cooled milk mixture. Then add the flour mixture in three additions.
Transfer batter to pan and bake until a skewer comes out clean, about 30 to 35 minutes.
Let cake cool for 10 minutes, then poke it with a skewer to create holes in 1/2-inch intervals. Pour the milk mixture evenly over the cake. Let sit at room temperature for about 15 minutes, then refrigerate, uncovered, for at least 3 hours, but overnight is best.
When ready to serve, let the cake sit at room temperature for 30 minutes, then make the whipped cream. In a bowl whip the cream, crème fraîche, sugar and vanilla on medium speed until medium peaks. Spread over the cake, dust with cinnamon and serve.