Bake the chocolate cake in a greased 9×13-inch pan as directed on the box.
While the cake bakes, mix the condensed milk and cream of coconut together.
Once baked, poke holes all over the hot cake with the handle of a spoon.
Pour the coconut mixture over the warm cake and sprinkle with 1½ cups of shredded coconut.
Let the cake cool, then refrigerate for at least 2 hours.
Toast the remaining coconut and almonds at 325°F for 5–7 minutes. Let cool.
Spread whipped topping over the chilled cake. Sprinkle with toasted coconut and almonds.
Slice, serve, and enjoy!