01 -
In a large bowl, whisk together sweetened condensed milk and ice-cold water until fully combined. Whisk in the instant vanilla pudding mix vigorously until the mixture is smooth and free of lumps. Cover and refrigerate for approximately 4 hours to allow it to set.
02 -
In a separate large mixing bowl, whip heavy cream using a hand or stand mixer until soft peaks form. Incorporate marshmallow fluff and continue whipping until stiff peaks develop.
03 -
Gently fold the whipped cream mixture into the set pudding in increments, taking care to maintain volume by avoiding deflation. Fold until a near-uniform mixture with minimal streaks is achieved.
04 -
In a 9x13 inch baking dish or large serving bowl, arrange a single layer of Nilla Wafers. Top with a layer of sliced bananas, then spread one-third of the cream mixture evenly over the bananas. Repeat this layering process two more times, finishing with a top layer of the cream mixture.
05 -
Optionally garnish the top with crushed Nilla wafer crumbs or other desired decoration. Refrigerate the assembled dish for at least 4 hours before serving to allow flavors to meld and pudding to firm.