Preheat the oven to 375°F (190°C). Coat a 12-cup fluted tube pan thoroughly with nonstick cooking spray.
Combine 1 cup sugar and the water in a skillet over medium-high heat. Cook without stirring for about 10 minutes, until the sugar melts and becomes deep amber.
Immediately pour the caramel into the prepared pan and carefully tilt the pan to coat the bottom evenly. Let it cool slightly.
Blend the evaporated milk, cream cheese, eggs, vanilla, and remaining 1 cup sugar until completely smooth.
Prepare the white cake batter according to the package directions, then mix in the dry strawberry gelatin powder.
Pour the strawberry cake batter over the caramel. Slowly pour the cream cheese flan mixture over the cake batter.
Cover the pan with foil coated with cooking spray, sprayed side down. Place the tube pan inside a larger roasting pan and add hot water until it reaches halfway up the sides.
Bake for about 1 hour 15 minutes, until a toothpick inserted near the center comes out clean.
Remove the tube pan from the water bath and cool completely without unmolding. Refrigerate for at least 2 hours.
Run a thin knife around the edges, invert the cake onto a serving plate, and carefully lift off the pan. Garnish with whipped topping and fresh strawberries.