Beat eggs, milk, and vanilla in medium bowl and blend well. Sift the dry ingredients and add to the egg mixture. Beat well until smooth.
Heat oil (about 1-1 1/2 cups) on medium heat in a 10' skillet. Pour half the batter in a pyrex measuring cup. When oil is hot but not spitting (oil is too hot if this happens, turn temp down a little.)
Begin pouring batter slowly all around the pan in a lacy circle until measuring cup is empty. Cook about 1-2 minutes on each side and reach a golden color and edges are crispy and cake is done.
Remove cake from fat and drain on paper towels. Sprinkle with powdered sugar and serve with warm honey all over. Heavenly! Repeat same process for 2nd cake as well.