Create a starter by combining ½ cup lukewarm water, 1 cup flour, and ⅛ teaspoon yeast. Thoroughly mix to get a wet paste. Let sit in a large, covered container for 12-24 hours. The starter will expand and be very bubbly and sticky when you open the container after the time has passed.
Add the starter to the remaining yeast, flour, water, dry milk powder, salt, and olive oil and knead. A stand mixer is best for about 6 minutes, but you can do this by hand. You should get a smooth, velvety dough. Liberally oil two 9-in cast iron or aluminum pans with olive oil.
Divide the dough in half and press out into the pans until they touch the edge. You should not need to roll them out. If they do not reach the edge you can wait for them to expand. Let rest covered with plastic wrap at room temperature for 2-4 hours.
Preheat oven to 475°F and cut a 9-in round out of foil.
Baste the outer edge of the dough with olive oil and top the pizza with your favorite toppings, but do not overcrowd. Place the foil round on top to reduce excessive browning, removing in the last 5 minutes of cooking. Bake for 20-28 minutes until the dough is cooked through and the cheese is melted.