Preheat oven to 350F. Line 3, 8-inch cake rounds with parchment paper; do not grease the sides!
Prepare the pistachio sponge cake. Place the flour, pistachio nuts and baking powder into a food processor. Pulse the mixture until pistachios are blended into the flour; set aside. In a mixing bowl, combine the eggs, sugar and vanilla. Beat on high speed for 7 to 9 minutes, or until the mixture is thick and pale in color. Sift the dry ingredients into the egg mixture in small batches, folding gently but thoroughly after each addition.
Divide the cake batter evenly between the prepared pans and bake in preheated oven for 18 to 22 minutes, or until the tops are set and golden brown. Allow the cakes to cool completely, then use a serrated knife to split the layers in half, creating 6 layers total.
While cake is baking, prepare the pomegranate syrup. Combine the pom juice, arils and sugar in a small saucepan. Bring the mixture to a simmer over medium/high heat and simmer for about 20 minutes, allowing the juice to reduce in half. Cool the syrup completely before using in the recipe.
Prepare the whipped cream frosting (updated). Place softened cream cheese and butter into a large mixing bowl and whisk together on high speed until fluffy, about 3 minutes. Next, add in the sweetened condensed milk, vanilla and salt and mix again for a few minutes until creamy. In a separate bowl, whisk the chilled heavy cream on high speed for 3 to 4 minutes until stiff peaks form. Add the cream cheese mixture to the whipped cream. Whisk on medium speed for about 30 seconds; avoid over-mixing which will cause the frosting to separate!
Assemble the cake. Pour several tablespoons of prepare pomegranate syrup over each sponge cake layer, top with frosting and repeat for all layers. Use remaining frosting to frost the top and sides of the cake. Use a flat spatula to level the top and sides, then place the cake into the freezer or refrigerator and allow the cake to set for about 30 minutes.
Meanwhile, prepare the ganache. Heat the 1/3 cup heavy cream until steaming hot, then add the white chocolate chips. Stir the mixture until the chocolate is completely melted. Add white food coloring to make the ganache less opaque, then add red food coloring. Allow the ganache to cool before pouring over the top of the cake.
Allow the cake to chill and set in the refrigerator overnight.