In a large bowl, cream together the butter and 1 cup sugar until light and fluffy. Add the egg yolks one at a time and beat well. Beat the mixture about 5 minutes until fluffy.
Sift together the flour, baking powder and salt; stir into the creamed mixture.
Beat the egg whites to soft peaks, add the 3/4 cup sugar and beat to stiff peaks. Fold into the batter.
Bake for 25-30 minutes at 350°F. Cool.
To assemble
Whip the cream with 1 Tbsp sugar and the vanilla.
Place one layer on a plate. Spread with the currant jelly and 1 cup of the whipped cream. Sprinkle with 2 Tbsp pecans.
Place the second layer on the cake. Spread with 2/3 cup of the strawberry preserves and 1 cup whipped cream. Sprinkle with 2 Tbsp pecans.
Add the third cake layer. Frost the sides with 1 1/2 cups whipped cream and coat with the remaining pecans.
Frost the top of the cake with whipped cream. Swirl the remaining 1/3 of the strawberry preserves into the whipped cream on top of the cake.