Preheat oven to 375. Grease a bundt pan. In a large bowl, sift together flour, baking powder, and salt. Set aside.
In a large bowl, mix oil and sugar. Add the eggs one at a time, beating after each addition. Add the sweetened condensed milk, the milk, coffee and vanilla. Add the dry ingredients and mix well. Bake for 45 minutes or until a cake tester comes out with moist crumbs attached. Let cool for 20 minutes. Remove from pan before icing.
Chop chocolate and place in a bowl and add Kahlua. Scald heavy cream in a medium saucepan over medium heat. This essentially means bring to high simmer around the edges of the pan, without boiling. Pour heavy cream over chocolate/Kahlua and allow to sit for 30 seconds. Using a whisk, begin to stir mixture until smooth and chocolate syrup like. Drizzle over cake. Additional can be stored for up to two weeks in the fridge.