Pre-heat oven to 350°F. Grease and flour a 9-inch spring form pan and line the bottom with parchment paper. Set aside.
Whisk together the flour, baking powder, baking soda, and salt in a mixing bowl and set aside.
Using an electric mixer (hand or stand mixer), to mix together the butter, granulated sugar, and brown sugar until light and fluffy, about 3 minutes. With the mixer on low, add the eggs - one at a time. Add the vanilla and almond and mix until combined. Stop the mixer and scrape down the sides and bottom of the bowl.
With the mixer on low, add in half of the flour mixture and mix until combined. Add the sour cream and milk. Mix until the liquids absorb into the batter. Add the remaining flour mixture and mix until just incorporated. It is okay if a few dry streaks remain. Stop the mixer and fold in the sprinkles until just combined. Do not overmix or the sprinkles may bleed.
Spoon about ⅔ of the batter into the pan and spread into a smooth layer with an offset spatula. Remove the streusel from the fridge and sprinkle on about ⅓ of the mixture - breaking it up into small clumps as needed.
Carefully spoon on the remaining batter and spread until smooth. Top the batter with the remaining streusel.
Bake the cake for 30 to 40 minutes, or until a toothpick inserted into the center comes out clean or with a few moist crumbs (just not totally raw). Be careful not to over-bake. Cool the cake on a wire rack before adding the glaze and serving.