In a stand mixer, beat the sweetened condensed milk and water on medium speed until well combined (about 1 minute).
Add the pudding packet and mix until there are no lumps (2 minutes)
Put the pudding mixture into a covered bowl and refrigerate until firm (at least 1 hour or overnight)
In a stand mixer, whip the heavy whipping cream on medium speed until the mixture starts to thicken and soft peaks form. Be careful not to overwhip the cream!
While the whipping cream is mixing, slowly spoon the pudding into the mixer. Mix until well blended and no streaks of pudding remain.
in the serving bowls of your choice, layer Nilla wafter cookies on the bottom then sliced banana and pudding. Repeat until your dishes are full.