While this cake is definitely a great treat to prepare for Valentines's Day, it's also a perfect cake for all occasions from birthdays to anniversaries.
Preheat oven to 350 degrees F (180 C) and line 3 8-inch cake pans with parchment paper. Pour aquafaba into bowl of stand mixer and beat until its begins to look light and fluffy (about 3 minutes). Slowly drizzle in sugar while beating on high and continue until it forms stiff peaks (it should take about 5 more minutes). In separate bowl, stir together the lemon juice, applesauce, melted coconut oil, oil, and extracts.
Divide batter into the pans as evenly as possible. Bake for 30-40 minutes until toothpick inserted in center comes out clean and edges are lightly golden. Remove the cakes from oven and cool completely before frosting. (I prefer to cover them and place them in the freezer for at least an hour.)
Once cakes are cooled, use a sharp knife to loosen the sides and gently remove cakes from pans. Peel off the parchment and place one of the layers on your desired plate or tray. Spread a layer of the frosting on top and top with a second layer of cake. Repeat layering cake and frosting for each layer until the top layer is frosted.
Spread a generous amount of frosting on the sides of the cake and use a cake spatula to evenly spread it. You can decorate as desired or leave it simple. I chose to simply use a variety of fresh flowers for this cake. It's best to store the cake in something such as a cake dome to prevent it drying out.