Stir the warm milk, honey, and yeast together in a small bowl. Let it rest for about 5–10 minutes, until it becomes foamy on top that’s your sign the yeast is alive and ready.

In a large mixing bowl, combine the flour, sugar, salt, cinnamon, and baking soda. Add the eggs, extra yolk, vanilla, oil, white wine, citrus zest, softened butter, and the yeast mixture. Mix until the dough comes together and feels smooth and stretchy. Knead for about 8–10 minutes. Cover the bowl and let the dough rise for roughly an hour, or until it doubles in size.

Soak the raisins in rum or warm water for about 10 minutes. In a separate bowl, mix together the sugar, cinnamon, anisette, orange and lemon zest, chopped walnuts, whiskey, the drained raisins, and the candied orange peel. Stir until everything is evenly coated and aromatic.

After the dough has risen, roll it into a large, thin rectangle. Spread the filling evenly over the surface. Starting from one of the long sides, roll it up tightly into a log.

Curl the filled log into a spiral or wreath shape. Place it in a greased, parchment-lined cake pan. Insert toothpicks here and there to help keep the layers from shifting as it bakes.

Brush the top with a little melted butter. Bake at 350°F (175°C) for 40–45 minutes, or until the top is nicely golden and the cake is cooked through. Remove the toothpicks once it’s out of the oven.

Warm the honey until it loosens, then brush it generously over the warm cake. Sprinkle with colourful sprinkles, and give it a light dusting of powdered sugar before serving.