Preheat oven to 350 degrees and line the bottoms of two 9 inch circular cake pans with parchment paper. Spray the entirety of the pans with cooking spray.
In a medium bowl, whisk flour, cocoa powder, baking soda, and salt. In the bowl of your stand mixer (or a large bowl and a hand mixer) beat oil and both sugars until well incorporated. Beat in eggs, one at a time, followed by the vanilla. On the lowest setting of your mixer, beat in the flour mixture, then carefully add the boiling water and stir until mixture is smooth. (It will be a little on the runny side; that's ok!)
Divide cake batter between the two prepared pans. Bake at 350 for 35-40 minutes or until they no longer jiggle/a toothpick inserted into the center comes out clean.
Let cool in pan for several minutes before carefully inverting onto a cooling rack to cool completely.
While cakes cool, make the frosting:
Whisk condensed milk together with egg yolks in a large saucepan. Add butter, and heat over low heat, whisking constantly, until it begins to sputter and thickens, about 5 minutes.
Remove from heat and stir in vanilla along with coconut and almonds. Let cool to room temperature before using to frost cake.