Penetrating several layers of armor is different than penetrating one layer. Every layer penetrated is going to instill more and more yaw in the projectile, which makes it less penetrative. It also damages the projectile, doing the same.
Per Nathan Okun, one of the leading authorities on the subject of armor penetration, multiple layers actually reduce the effectiveness of armor against AP projectiles. But yeah, against HEAT spaced armor is more effective, but I do not believe the Iowa class had spaced armor other than the deck armor.