Combine. Beat the sweetened condensed milk and ice water on medium speed until thoroughly combined. Add the vanilla pudding mix and beat for another 5 minutes until the pudding has totally dissolved.

Chill. Cover the pudding mixture and chill in the fridge for at least 3-4 hours. You can also let it chill overnight and finish it in the morning.

Make the whipped cream. In a large bowl, beat the heavy cream on medium-high speed until stiff peaks form.

Put it all together. Gently fold the pudding into the whipped cream until thoroughly combined (no streaks left behind).

Assemble. Spread 1/3 of the pudding into the bottom of a 4-5 quart trifle bowl. Arrange a layer of Nilla wafers (laid flat) over the pudding. Follow the wafers with a single layer of sliced bananas. Sprinkle with ½ teaspoon cinnamon. Repeat and then spread a final layer of pudding over the top. Sprinkle with the remaining cinnamon.

Chill. Cover the pudding and chill in the fridge for 4 hours.

Serve. Pull the pudding out of the fridge and uncover it. Add a couple of Nilla wafers and extra slices of banana to the top, if desired. Serve chilled.