Cakes can be made 3 days in advance and the cake will be okay to eat after that time.
Just make sure that if you do make the cake 3 days in advance to cover the cake and refrigerate the cake to keep any bacteria from growing on it.
You can also ice the cake 3 days in advance or wait until that day to ice the cake which would be better.
Cakes are best served when made the same day or at least one day before so they will be as fresh as possible.
But a cake after 3 days will still be pretty tasty and if you don't have time to make the cake sooner and need to make the cake 3 days in advance then you certainly can do so.
I've done it myself and I've bought cakes from bakeries that were even a week old and they were okay but not as fresh.