1. Mix pudding mix with milk and beat for 2 minutes. Stir in sweetened condensed milk.
2. In a large container, layer vanilla wafers, pudding, thinly sliced bananas, and whipped topping. Repeat layering twice. Refrigerate for at least 2 hours before serving.
3. A few wafers can be saved and crushed to spread over the top of the finished dessert, if desired.