In a large mixing bowl, places heavy whipping cream, vanilla, and powdered sugar. Using an electric hand mixer, beat until stiff peaks form.
In a medium bowl, add pudding mix and milk and whisk until thickened.
In another medium bowl add cream cheese and sweetened condensed milk and blend well using an electric hand mixer.
Add the pudding mixture and cream cheese mixture to the whipped topping bowl and fold altogether carefully until well combined.
Place a layer of nilla wafers in the bottom of 9x13 baking dish until completely filled.
Top with a layer of banana slices.
Spread half of the topping onto bananas evenly.
Continue with a second layer of wafers, bananas and rest of mixture.
Crumble the rest of nilla wafers into pieces and sprinkle on top of mixture.
Cover and place into refrigerator for at least 4 hours to overnight.