Preheat oven to 375 F. Line a jelly roll pan with buttered foil or parchment paper.
Beat the eggs, gradually adding a cup of granulated sugar. Stir in water and vanilla extract.
Sift in flour, baking powder and salt, and fold batter together. Pour the batter into the pan.
Bake for 15 minutes. Cake will be springy to the touch and start to shrink away from the sides of the pan.
Lay out a sheet of parchment paper slightly longer than the cake and sprinkle lightly with powdered sugar. Take off the foil or parchment paper and cut away the crusty edges of the cake.
Roll the cake up in the parchment paper sprinkled with powder sugar. Place in the refrigerator to cool.
Whip heavy cream on high in a stand mixer until cream is thick. Add in Ricotta cheese, cream cheese, powdered sugar, vanilla and cinnamon and mix on low to medium to combine until ingredients are mixed together well. Stir in chocolate chips.
Unroll cake and spread the cannoli filling over the cake. Tightly roll the cake back up and refrigerate for an hour before serving.
To slice, run hot water over a knife and wipe dry before slicing straight through. Rinse in hot water and dry knife in between cutting each slice. This allows for a cleaner slice.