Step 1

Make the cake: Arrange a rack in the middle of the oven and heat to 350°F. Generously coat a 12-cup Bundt pan with the 1 tablespoon of butter. Dust with the 2 tablespoons of flour and pour out any excess; set aside.

Step 2

Whisk the flour, sugar, baking powder, and salt together in a large bowl. Add the eggs, oil or butter, milk, and vanilla and mix with an electric hand mixer on medium speed until smooth, about 3 minutes.

Step 3

Pour the batter into the pan. Bake until the cake is lightly browned and springs bake when gingerly pressed with a finger, 40 to 50 minutes.

Step 4

Cool on a wire rack for 15 minutes. Remove from the pan, place back on the rack, and cool completely before frosting.

Step 5

Make the glaze: Combine the chocolate chips and heavy cream in a small microwave-safe bowl. Microwave until the cream is hot, about 30 seconds. Add the salt and stir until smooth.

Step 6

Pour over the Bundt cake, making sure that the glaze drips down the sides of the cake. Glaze should cling to the cake, and not just drip down the sides. If it's dripping, simply wait a minute for the glaze to cool before proceeding. Decorate with rainbow sprinkles, if desired.