Preheat the oven to 350 degrees. Butter a 10x15 inch nonstick jellyroll pan.*
Sift together the flour, baking powder and salt in a small bowl, set aside.
In a mixing bowl using a wire whisk or electric beaters, whip the egg whites and water together, gradually adding 1/2 cup of sugar, until mixture is thick, bright white, and glossy. Set aside.
In a separate mixing bowl, using a wire whisk or electric beaters, whisk the egg yolks until thickened and slightly lighter in color. Gradually add the 1/3 cup of sugar followed by the vanilla and beat until quite thick and pale. Gently fold the yolks into the whites with a rubber spatula, then fold in the dry ingredients until just combined; be careful not to over-mix.
Spread the batter evenly into the prepared baking dish. Bake for 12-15 minutes, until lightly browned and springy to the touch. Remove pan from oven and set on a wire rack to cool slightly. Cut out rounds of cake with a 2 1/2 inch cookie cutter and set aside.
With a chilled wire whisk or electric beaters, whip the heavy cream until it forms soft peaks. Add the confectioners’ sugar and continue whipping until it forms stiff peaks.
Assemble the Charlotte Russe: Place a round of sponge cake at the bottom of a paper cup or small glass. Top with a teaspoon of raspberry jam, followed by a generous dollop of whipped cream. If desired, spoon the whipped cream into a pastry bag fit with a star tip and pipe into the cup. Top with a cherry and chocolate sprinkles, if desired.
A jellyroll pan works best but if you don’t have one, substitute a 9x13 inch nonstick baking pan. Butter the pan generously, and increase baking time to 15-18 minutes.