Sprinkle the gelatin over the water in a small saucepan and let stand for 3–4 minutes. Stir in the sugar and heat gently until the gelatin and sugar are completely dissolved. Add the frozen pink lemonade concentrate and stir until combined. Chill the mixture until it reaches the consistency of unbeaten egg whites. Pour into a large mixing bowl and slowly beat in the evaporated milk. Continue beating for about 2 minutes, or until the mixture becomes light and fluffy. Gently fold in the angel food cake cubes. Spoon the mixture into an 8 1/2 x 4 1/2 x 2 1/2-inch loaf pan and chill for at least 2 hours. Slice and serve garnished with fresh berries, if desired.

Note:

For a larger batch, use a 12-ounce can of frozen pink lemonade concentrate and a whole angel food cake. Keep the first three ingredients the same and chill in a large serving bowl instead of a loaf pan.