I would bake the cake in a waffle iron. If you have a non-stick waffle iron try cooking the cake batter, the same as the waffle batter. They will be softer, you have to handle them carefully, but it would be the 'real thing'. the worst that can happen is you have to take time to clean the waffl iron. I know you can bake brownie batter in a waffle iron, I can't see why cake wouldn't work.
another idea... assuming you can cover it in fondant.
bake square cakes... kinda thinnish layers so it looks authentic. then ice in a thick layer of buttercream and cover in fondant. then take a square of something- cut from a cake board or something similar- and press it into the fondant at even intervals to make the waffle pattern. then stack however you want- make sure to use supports.
HTH
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