Pour the instant vanilla pudding mix into a large mixing bowl. Add 2 cups whole milk and whisk vigorously for 2 minutes until the pudding thickens and becomes smooth. You'll see it go from liquid to a gel-like consistency. Set aside at room temperature.

Place 8 ounces of softened cream cheese (it should be soft enough to press your finger through) into a separate large bowl. Use an electric mixer or whisk to beat the cream cheese for 1-2 minutes until it's completely smooth with no lumps. Scrape down the bowl edges.

Slowly fold the pudding mixture into the cream cheese using a rubber spatula. Fold gently by scooping from the bottom and flipping over the top, rotating the bowl as you go. Continue for about 1 minute until mostly combined. Don't overmix.

In a third bowl, pour 1/2 cup heavy whipping cream and add 1/4 cup powdered sugar and 1 teaspoon vanilla extract. Using an electric mixer or whisk, beat on medium-high speed for 3-5 minutes until stiff peaks form. This means when you lift the whisk, the cream stands straight up without flopping over. Checkpoint: Your whipped cream is ready when it holds its shape firmly.

Gently fold the whipped cream into the pudding-cream cheese mixture using the same folding technique. Do this carefully to keep the mixture light and fluffy. Fold just until no white streaks remain, about 1-2 minutes. Checkpoint: The pudding mixture should now be light, fluffy, and pale, not dense or heavy.

Peel 4 ripe but firm bananas and slice them into quarter-inch thick rounds using a sharp knife. Place banana slices in a small bowl and toss with 2 tablespoons fresh lemon juice and a pinch of salt. The lemon juice prevents browning. Let sit for 1 minute.

Take a 9 by 13-inch glass baking dish or large serving bowl. Spread about 3/4 cup of the pudding mixture evenly across the bottom as a base layer. Smooth it with a spatula.

Arrange 8-10 vanilla wafer cookies over the pudding layer in a single layer. They can overlap slightly. The wafers will soften as they absorb moisture.

Arrange half of the banana slices in an even layer over the wafers. Pour about 1 cup of the pudding mixture over the bananas and spread gently to cover. Repeat with another layer of wafers, then the remaining bananas, then the remaining pudding. You'll have about 3 layers of wafers total.

Top the dessert with a final smooth layer of the remaining pudding mixture. Spread 2-3 tablespoons of whipped cream over the very top using a spatula. Crush 5-6 vanilla wafers and sprinkle over the whipped cream, or place whole wafers around the edge for garnish.

Cover the dish loosely with plastic wrap and refrigerate for at least 2-3 hours, or up to 8 hours. The longer it sits, the better the flavors blend and the softer the wafers become. Checkpoint: Before serving, the pudding should be fully chilled, set, and cold to the touch.

Serve directly from the dish into bowls or small cups. Scoop down to the bottom to ensure each serving has all layers. Add extra whipped cream on top if desired.