Bake cake according to package directions, using two greased and floured 9-in. round baking pans. Cool for 10 minutes; remove from pans to wire racks to cool completely.

In a microwave or double boiler, melt chocolate chips; stir in milk and extract. Fold in whipped topping. Place one cake layer on a serving plate. Spread with raspberry jam. Top with second cake layer. Frost top and sides with chocolate topping.

Store in the refrigerator.