Beat cream cheese and sugar in the bowl of a mixer until smooth.

Add milk and vanilla extract and beat until smooth. Set aside.

In a clean mixer bowl, make the whipped cream by whipping the heavy whipping cream until it begins to thicken.

Add powdered sugar and whip until stiff peaks form.

Fold whipped cream into cream cheese mixture. Set aside.

In a separate bowl, mix dry banana pudding mix with 0.25 cup milk until smooth. Fold into whipped cream mixture.

Layer the dessert in a 9-inch springform pan: first lining with parchment paper, then spread half of the banana filling in the bottom.

Top with half of vanilla filling.

Dip vanilla wafers into 0.5 cup milk and arrange in a layer over the vanilla filling.

Spread a thin layer of banana filling over the cookies.

Add sliced bananas on top of the layer.

Repeat layers, ending with vanilla filling on top.

Freeze the assembled cake for at least 4 hours until firm.

Whip remaining heavy cream with powdered sugar until stiff peaks form for topping.

Decorate the top of the cake with whipped cream, banana slices, and crushed cookies if desired.