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Preheat oven to 325F, add a circle of parchment paper to the base of a 9-inch springform pan, and spray the parchment paper and the sides of the pan very well with cooking spray; set aside. Do not make this cake in a regular 9-inch cake pan. Most are only about 1 1/2 to 2 inches deep and this cake rises to about 2 1/2 to 3 inches on the sides and nearly 4 inches in the center. It will overflow in a regular 9-inch pan.
To a large bowl, add the olive oil, eggs, and whisk well to emulsify and incorporate.
Add the milk, lemon zest, lemon juice (I was able to get sufficient zest and juice from one very large ripe lemon), Limoncello, lemon extract, and whisk to incorporate.
Add the sugar and whisk to incorporate.
Add the flour, salt, baking powder, baking soda, and whisk until just incorporated; don’t overmix. The batter in on the thin side; this is normal.
Turn batter out into prepared pan, place pan on a baking sheet as insurance against a leaky springform pan, and bake for about 68 to 75 minutes. Start checking after 60 minutes since all ovens vary. Cake will be golden browned and domed in the center when done, and a toothpick inserted in the center will come out clean or with a few moist crumbs.
Allow cake to cool in the springform pan for about 1 hour before releasing it and allowing the cake to finish cooling on a wire rack.
Dust with confectioners’ sugar prior to serving. Cake will keep airtight at room temp for 1 week and although I haven't tried it, I think this cake would freeze very well for up to 3 months.