Beat pudding mix and milk with electric mixer about 1 minute. Combine Eagle Brand Milk and Cool Whip into pudding mixture and stir by hand until completely mixed.
Layer vanilla wafers and 1 banana in serving bowl; pour pudding mixture over these. Then add another layer of wafers and banana; pour pudding mixture. Continue layering and pouring mixture until you end with pudding mixture on top. Arrange wafers on top and around sides of bowl.
Refrigerate about 3-4 hours or overnight, if desired, before serving.