POUR cold milk into large bowl. Add pudding mix, 2 Tbsp. of the orange juice and nutmeg. Beat with wire whisk 1 minute. Gently stir in whipped topping.
SLICE cake horizontally into 4 layers. Sprinkle cake layers evenly with remaining 2 Tbsp. orange juice. Cut into 1-inch cubes.
PLACE 1/2 of the cake cubes in bottom of 2-1/2-quart straight-sided bowl. Spoon 1/2 of the whipped topping mixture over cake cubes. Top with strawberries and almonds, reserving several for garnish, if desired. Layer remaining cake cubes and whipped topping mixture over strawberries. Top with reserved strawberries and almonds.
REFRIGERATE until ready to serve. Store leftover dessert in refrigerator.