Prepare the Pudding Mixture:
In a large mixing bowl, whisk together the instant vanilla pudding mix and cold milk for about 2 minutes, or until the mixture thickens.
Add the sweetened condensed milk and vanilla extract to the pudding mixture, stirring until well combined and smooth.
Layer the Ingredients:
In a trifle dish or a 9x13-inch baking dish, arrange a layer of vanilla wafers on the bottom.
Top the layer of wafers with a layer of sliced bananas.
Pour half of the pudding mixture over the bananas, spreading it evenly to cover them.
Repeat the layers: vanilla wafers, sliced bananas, and the remaining pudding mixture.
Add the Whipped Topping:
Spread the thawed whipped topping over the top layer of pudding, smoothing it out with a spatula.
Chill and Serve:
Cover the banana pudding with plastic wrap and refrigerate for at least 4 hours, or overnight, to allow the flavors to meld and the pudding to set.
Before serving, garnish the banana pudding with additional banana slices and vanilla wafers, if desired.
Serve chilled and enjoy the amazing flavors of this classic dessert!