First make the whipped cream which will be folded into the pudding mixture. To do this beat 1 cup of heavy cream until it forms stiff peaks. Set aside.
In another mixing bowl, you'll make the pie filling. You need to make sure the cream cheese is completely softened. You can actually remove the foil, place the cream cheese in a microwave-safe bowl and heat it for 15-20 seconds.
Once the cream cheese is fully softened, use an electric mixer fitted with the paddle attachment and beat until light in texture with no lumps.
Beat in the condensed milk, pudding mix, cold milk, heavy cream, and vanilla extract.
Beat until completely smooth. Note, it will not be a thick pudding consistency yet. It will be more watery and as it sits it becomes thicker.
Next, fold in the whipped cream you made previously.
Do this by adding it to the pudding mix and then using a spatula to gently fold the mixture until it’s all incorporated.
Slice 3 peeled bananas to layer into the pudding mixture.
Pour 1/3 of the pudding into the pie dish.
Add a layer of sliced bananas and repeat 2 more times.
Top with whipped cream and bananas.