PREHEAT oven to 350°F. Line bottoms of three 8-inch cake pans with Reynolds Parchment Paper; set aside.
BEAT cake mix, milk, butter, eggs and vanilla in large bowl on low speed 30 seconds. Then beat on medium speed 2 minutes, scraping bowl occasionally. Divide batter evenly among prepared cake pans.
BAKE 18 to 22 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes before removing from pan. Cool completely before filling and frosting.
FOR FILLING, beat cream cheese, powdered sugar and vanilla extract until smooth. Fold in whipped topping. Place one cake layer on a cake platter. Spread 1 cup of filling evenly over top of cake. Arrange 1/3 of strawberry slices over filling. Repeat with another cake layer, 1 cup of filling and 1/3 of strawberry slices. Top with remaining cake layer. Frost with remaining filling and top with remaining strawberries. Refrigerate until ready to serve. Garnish with strawberry fans.
REYNOLDS KITCHENS TIP: To make strawberry fans, cut 1/8-inch slices from tip of strawberry to stem without cutting through. Fan out slices and place around edge of platter or on top of cake.