Step 1

Using either a hand held mixer or a stand mixer, combine the sweetened condensed milk, cold water and cold milk. Mix on low-medium for 1-2 minutes.

Step 2

Add the vanilla pudding mix and beat on medium for 2 minutes. The pudding mixture should just start to thicken.

Step 3

Cover and refrigerate for 4 hours or overnight to ensure the pudding completely sets.

Step 4

Using either a hand held mixer or a stand mixer, combine the heavy cream and vanilla flavoring and beat until the cream is stiff.

Step 5

Gently fold the whipped cream into the fully set pudding. Fold until the cream and pudding is completely combined and uniform in color, with no visible streaks.

Step 6

For presentation, use either a large serving bowl, trifle dish or a compote dish. (you can also use mini trifle dishes for individual servings) Line the bottom of the bowl with ⅓ of the vanilla wafers (about 30 wafers).

Step 7

Evenly layer 1 ½ cups of the sliced bananas on top of the wafers.

Step 8

Top banana slices with ⅓ of the pudding mixture.

Step 9

Repeat until there are 3 layers of wafers, bananas and pudding.

Step 10

Crush the reserved 5-6 wafers.

Step 11

To finish, sprinkle the top of the pudding with crushed wafers. You may also use any leftover crumbs from the wafer box. Cover and keep refrigerated until serving.