1. In a large bowl, beat together the sweeten condensed milk and water until well combined, about 1 minute.
2. Add pudding mix and beat well, about 2 minutes.
3. Cover and refrigerate for 3 - 4 hours or overnight. It is important to allow the proper amount of time for the pudding mixture to set. It will be watery if you don't let it set up long enough.
4. In a large bowl, whip the heavy cream until stiff peaks are formed. Gentle fold the whipped cream into the pudding mixture until no streaks.
Dessert can either be made in individual potions or in a large glass bowl.
To assemble, select a large wide glass bowl or in trifle bowl with a 4 - 5 quart capacity.
1. Arrange ⅓ of the Nila Wafers covering the bottom, overlapping if necessary.
2. Next layer ½ of the banana and ⅓ of the pudding mixture. Repeat twice more, garnishing with additional wafer or wafer crumbs on the top layer.
3. Cover tightly and allow to chill in the fridge for at least 4 hours or up to 8 hours, no longer or the bananas will start to brown.