Step 1

Chill a metal mixing bowl and beater attachments in the freezer.

Step 2

Combine the graham crackers, melted margarine, and sugar until the mixture resembles wet sand. Save some of the crust for the topping.

Step 3

Press the crust into the bottom and sides of a 9x13-inch pan. Use the bottom of a measuring cup to pack the crust tightly and evenly.

Step 4

Beat together the cream cheese and sugar at medium speed until smooth and fluffy, about 5 minutes. Add the vanilla and beat for 3 minutes more, scraping the sides of the bowl.

Step 5

Boil water in a saucepan. Add the gelatin and whisk until fully dissolved. Pour cold water and mix. Allow the mixture to cool to 75 degrees Fahrenheit, stirring regularly to keep the gelatin from congealing.

Step 6

Using the chilled bowl and beaters, beat the chilled evaporated milk at medium speed until stiff peaks form, about 3 minutes.

Step 7

To the milk, add the cooled gelatin mixture and beat for 30 seconds. Pour the cream cheese mixture and beat for 30 seconds.

Step 8

Pour the cheesecake filling into the crust-lined pie pan. Sprinkle the remaining graham cracker crust on top. Refrigerate overnight. Slice, serve, and enjoy!