1. In a large bowl, beat together the sweetened condensed milk and water until well combined – about 1 minute. Add the pudding mix and beat well – about 2 minutes. Cover and refrigerate for 3-4 hours or overnight. It is important for the pudding mixture to set up, or it will make your banana pudding watery. When it has set up it will be very firm.
2. In a large bowl, whip the heavy cream until stiff peaks form. Using a spatula and working with about a third of the whipped cream at a time, gently fold the whipped cream into the pudding mixture until no streaks of pudding remain.
3. The dessert can either be served in individual portions or in a large glass trifle bowl.
4. To assemble dessert, select a large wide glass bowl or trifle bowl with 4-5 quart capacity.
5. Arrange about 1/3 of the Nilla wafers to cover the bottom.
6. Next, layer 1/3 of the banana slices, and then 1/3 of the whipped cream pudding mixture.
7. Repeat twice more, and finish the top with additional wafers, banana slices and/or some Nilla wafer crumbs. I would wait to put the banana slices on top until right before serving to help them not go brown. Cover tightly and allow to chill in the fridge for at least 4 hours – or up to 8 hours. If you don’t mind the bananas a little brown–the dessert tastes even better then next day!

Recipe Notes

1. The bananas will start to turn brown as they oxidize. There are a couple of things you can do to make not brown as fast:
2. * Brush them with some fruit juice (pineapple, apple, orange, lemon). This can change the flavor slightly so brushing them is better than soaking them. Even water neutralizes the ph and will slow down the browning if you rinse them in water.
3. * Try to keep them airtight. The less contact with the air the less they will brown.