Step-by-Step Method:
Step 1: Prepare the Cream Cheese Base
1. In a large mixing bowl, combine the softened cream cheese and sweetened condensed milk.
2. Using an electric mixer on medium speed, beat for 2-3 minutes until completely smooth and creamy, with no lumps remaining. Scrape down the sides of the bowl as needed.
Step 2: Create the Pudding Layer
1. In a separate medium bowl, whisk together the cold milk and instant vanilla pudding mix for 2 minutes until thickened. Let stand for 2 additional minutes to fully set.
2. Using the electric mixer on low speed, gradually combine the prepared pudding with the cream cheese mixture until fully incorporated and smooth.
Step 3: Fold in Whipped Topping
1. Gently fold the thawed whipped topping into the pudding mixture using a rubber spatula, using a “fold and turn” motion to maintain airiness. Mix until just combined with no white streaks remaining.
Step 4: Assemble the Layers
1. In a 13×9-inch dish or large trifle bowl, create a single layer of vanilla wafers, covering the bottom completely.
2. Add a layer of sliced bananas over the wafers, using approximately half of the bananas.
3. Spread half of the pudding mixture evenly over the banana layer.
4. Repeat the layers: wafers, remaining bananas, and remaining pudding mixture.
5. For traditional presentation, arrange additional vanilla wafers around the edge of the dish or create a decorative pattern on top.
Step 5: Chill and Set
1. Cover tightly with plastic wrap, pressing it directly onto the surface of the pudding to prevent a skin from forming.
2. Refrigerate for at least 4 hours, though overnight chilling is ideal. This allows the wafers to soften slightly and the flavors to meld beautifully.
