In a large bowl, combine sweetened condensed milk and water.
Add pudding mix and beat well.
Chill the pudding mix for 5 minutes in the refrigerator
Fold in cool whip.
Spoon 1 cup pudding mixture into a 2 1/2 quart glass dish.
Top with 1/3 each of the cookies, bananas, and pudding.
Repeat layering twice, ending with pudding.
If you have remaining cookies crush them and sprinkle on top. I also had enough to line the edges of the dish to create a border.
Cover with plastic wrap and chill.
Refrigerate until ready to serve.
Note: In my opinion this dessert is best when it's made the day before so the cookies have a chance to soften in the pudding. But, either way it's delicious!