Prepare a tall 6 inches baking pan (see notes, point 5) with a round parchment paper, set it aside. Next, blend fresh strawberries in a blender and set the puree aside too.
In a medium bowl combine egg yolks, oil, milk, strawberry puree, food coloring and strawberry extract. Beat till combined well.
Sift flour, baking powder, cornstarch and salt over egg yolk mixture and fold in to combine. Set it aside.
Next, in a grease free and clean bowl add room temperature egg whites and beat them for a minute on medium speed. You can make meringue using a hand held or stand mixer.
Slowly start adding sugar in 5-6 increments and continue beat until stiff peaks are formed. Don't fret, if this takes 5-6 minutes.
Now, using a spatula, fold the meringue into the cake batter in 2 to 3 increments. Do not over mix at this point. We don't want the air bubbles to skip the batter.
Pour batter in the prepared pan and bake at 350 deg F for 50-60 minutes. To check for doneness, touch the center of cake with your finger and if the cake springs back, it's done.
Allow to cool, upside down for 15-20 minutes. Then run a knife around edges of pan and take the cake out.