1In a large bowl, beat together the sweetened condensed milk and 1 ½ cups ice cold water until well combined - about 1 minute.
2Add the instant vanilla pudding mix and beat well - about 2 minutes.
3Cover and refrigerate for 3-4 hours or overnight; allow proper time for the pudding mixture to set to avoid it being watery.
4In a large bowl, whip the 3 cups heavy cream until stiff peaks form using an electric mixer or stand mixer.
5Gently fold the whipped cream into the pudding mixture until no streaks of pudding remain.
6Dessert can either be made in individual portions or in a large glass bowl with 4-5 quart capacity (a 9x13 baking dish also works).
7To assemble dessert, arrange 1/3 of the Nilla wafers covering the bottom, overlapping if necessary.
8Next, layer 1/3 of the bananas.
9Then, layer 1/3 of the pudding mixture.
10Repeat the layering process twice more (total of three layers).
11Garnish with additional wafers or wafer crumbs on the top layer.
12Cover tightly with plastic wrap and allow to chill in the fridge for at least 4 hours - or up to 8 hours, no longer, to prevent bananas from browning.
Ingredients
1 (14 oz) can sweetened condensed milk
1.5 cups ice cold water
1 (3.4 oz) box instant vanilla pudding mix
3 cups heavy cream
4 cups sliced barely ripe bananas, (see note)
1 (12 oz.) box Nilla Wafers
Equipment
Large Glass BowlHand Mixer (for making whipped cream)
Tips
To prevent bananas from browning, pick barely ripe bananas (slightly green at the stem).
Brush bananas with lemon juice or other fruit juice to slow browning, or rinse with club soda (which won't affect taste).
Keep bananas airtight and covered with pudding mixture to minimize contact with air.
You can substitute Nilla wafers with shortbread cookies, butter cookies, or animal crackers.