In the bowl of a stand mixer, beat the butter and peanut butter on high speed for 1 minute.
Scraping down the sides of the bowl, add the icing sugar, vanilla and dash of milk, beating until light and fluffy, about 3 minutes.
Remove the first cake layer from the cake pan and place on a cake plate or pedestal.
Fill a piping bag fitted with an open circle tip with some of the frosting. Starting from the outside of the cake layer, pipe frosting onto the cake in a circle, forming a dam in the middle.
Add raspberry jam filling into the middle.
Add the second layer, repeating the frosting “dam” and jam filling.
Add the final layer of cake, frosting the top and sides to a crumb coat.
Chill in freezer for 15 minutes to set crumb coat.
Frost a final coat of peanut butter frosting and chill for 15 minutes to set “peanut butter frosting” layer before you frost the swiss meringue raspberry buttercream layer!