In a large bowl beat cream cheese and sweetened condensed milk. Then add both pudding mixes, cold milk and vanilla until smooth. Fold in whipped topping.
Line the bottom of 9x13 pan with vanilla wafers and then banana slices. Spread on pudding mixture then top with whip cream and chill.
Whip Cream recipe: 2 cups of heavy whipping cream, 4 TBS. sugar, 1 tsp. vanilla. Beat all ingredients together until thick and stiff peaks form. You can double this, depending on how much whip cream you like.