Preheat oven to 350-degrees.
In a large bowl, cream the butter and sugar until light and fluffy.
Gradually add the eggs, one at a time, and the vanilla extract.
Slowly blend in the milk until thoroughly combined. Set aside.
In another large bowl, whisk together the baking powder, salt, and all-purpose flour.
Add the flour mixture in thirds to the butter and egg mixture, using a spatula or wooden spoon to stir to combine.
Spray a bundt pan liberally with baking spray.
Spoon approximately 1½ cups of the pound cake batter into the bottom of the prepared bundt pan. Freeze while preparing the colored batter.
In a medium bowl, add approximately 3 cups of the batter along with the orange zest, juice, orange extract and a few drops of the orange gel food color. Stir well, adding more gel color if desired.
Spoon the orange batter evenly over the cream colored layer and return to the freezer while preparing the yellow batter.
In a medium bowl, add the lemon zest, lemon juice, lemon extract and a few drops of the yellow gel food color to the remaining batter. Stir well, adding more gel color if desired.
Spoon and smooth the yellow batter evenly over the orange layer.
Bake in a preheated 350-degree oven for 60 minutes, or until a toothpick inserted in the center comes out clean.
Cool the cake for 20 minutes and then invert it onto a serving platter to cool completely.
Once completely cool, dust the cake liberally with confectioner's sugar.
Slice and serve with whipped cream, ice cream, and candy corn (if desired).