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Step 1
Make the Cake: Place a rack in the middle of the oven; heat to 350°F. Line the bottom and sides of an 8-by-8-inch square baking pan. Cut out a piece of parchment paper to divide the batter in half down the middle. Fold a strip in half and fold out the flaps at the bottom to look like an upside-down T (see the photos above). This will keep both batters separate from one another while the cake bakes.
Step 2
In a large bowl or the bowl of a stand mixer fitted with the whisk attachment, cream the sugar and butter on medium speed for about 1 minute, until fluffy. Add the eggs one at a time, beating well and scraping down the sides of the bowl after each addition.
Step 3
In a medium bowl, combine the flour, almond meal, baking powder, and salt. Add one-third of the flour mixture to the sugar mixture and gently mix to combine. Add half of the milk and mix to combine. Repeat adding the flour mixture and milk, ending with the flour mixture. Mix in the almond extract.
Step 4
Evenly divide the batter between 2 bowls (I like to use a scale). Color one batter with a few drops of red food coloring. Pour into the prepared pan, with the plain batter on one side and the pink batter on the other. Bake for 30 to 35 minutes, until a tester inserted into the center comes out clean. Let cool for 10 minutes. Transfer to a wire rack and let cool completely.
Step 5
Make the Marzipan: In a large bowl, combine the almond meal, granulated sugar, and powdered sugar. Mix well to combine. Add the egg and almond extract and mix until the mixture starts to bind together. Knead with your hands until the marzipan is smooth. Shape into a rectangle and wrap in plastic wrap. Place in the fridge until ready to use.
Step 6
Assemble the Cake: Trim the ends, top, and sides of the cakes so they're the same size. Slice each cake in half lengthwise to make 4 long rectangles.
Step 7
Warm the jam in the microwave for 30 seconds to 1 minute. Press through a fine-mesh sieve. Brush the long side of one of the cakes with jam. Sandwich it together with a cake of the opposite color. Brush the tops of both cakes with jam and top with a piece of cake of the opposite color. Brush the jam on the inside long edge to make the cake stick together. Brush the top and sides of the cake with jam.
Step 8
Roll out the marzipan between 2 sheets of parchment paper into a large rectangle about ¼ inch thick. The rectangle should be large enough to wrap around the cake completely, leaving the ends uncovered. You can measure the width of cake with a piece of string and roll out the marzipan to the same size, trimming the sides for a neat finish.
Step 9
Place the cake upside down on the marzipan rectangle and wrap with the marzipan, pressing the sides gently to adhere. Try and have the marzipan seal in the bottom corner of the cake and press the edges together. Turn the cake upright and trim the marzipan on each end of the cake, if there's any excess.