In a large mixing bowl, combine the vanilla pudding mix with 2 cups of cold milk. Whisk for about 2 minutes until thickened and creamy. Refrigerate for 5 minutes to set.

Fold in 1 can of sweetened condensed milk until fully combined. Ensure a smooth mixture, then refrigerate briefly.

Reserve 1 cup of whipped topping, then fold the rest into the pudding mixture. Return to the fridge.

Peel and slice the bananas into thin rounds, about ¼ inch thick.

Layer half of the vanilla wafers at the bottom of your dish, then half of the banana slices, followed by half of the pudding mixture. Repeat the layers.

Spread the reserved whipped topping over the final layer, and optionally garnish with crushed Nilla Wafers and banana slices.

Cover with plastic wrap and refrigerate for at least 1 hour before serving.