In a large bowl, cream butter and sugar until light and fluffy. Add eggs, one at a time, beating well after each addition. Beat in orange juice and peel. Add flour to the creamed mixture alternately with milk, beating well after each addition.
Pour into 2 greased and floured 9"-inch round baking pans. Bake at 350 for 25-30 minutes or until toothpick inserted near center comes out clean. Cool for 10 minutes before moving from pans to wire racks to cool completely.
In a large bowl, beat butter until light and fluffy. Add the confectioners' sugar, orange juice and peel; beat until smooth. Spread glaze between layers and over the top and sides of cake.
Note: As a substitute for each cup of self-rising flour, place 1 1/2 teaspoon baking powder and 1/2 teaspoon salt in a measuring cup. Add all purpose flour to measure 1 cup.