Preheat the oven to 350 degrees F (180 degrees C). Spray a 9-inch springform pan with a baking spray containing flour.

Sift together cake flour, baking powder, baking soda, and 1/2 teaspoon salt. Set aside.

In a large bowl, beat together eggs and sugar on medium-high speed until mixture has lightened in color and tripled in volume, 5 to 7 minutes. Mix in ricotta, olive oil, 1/4 cup limoncello, 2 tablespoons lemon zest, 2 tablespoons lemon juice, and vanilla until combined.

Pour in half of the flour mixture and mix until just combined. Add in remaining flour mixture and mix until just combined. Pour cake batter evenly into the prepared springform pan, then place the springform onto a baking sheet.

Bake in the preheated oven until a toothpick inserted into the center comes out with a few moist crumbs, 65 to 75 minutes. Cool cake in the pan for 30 minutes before removing to a wire rack to cool completely.

To make icing, mix together powdered sugar, 3 tablespoons limoncello, heavy cream, 2 teaspoons lemon juice, 1/2 teaspoon lemon zest, and pinch of salt until completely smooth and combined. Pour icing over cooled cake.