Pour milk in a large bowl. Add dry pudding mixes. Bet with wire whisk 2 minutes or until well blended. Let stand 5 minutes.
Arrange half of the wafers on bottom on up side of 2-qt. serving bowl. Top with layers of half each of the banana slices and pudding. Repeat all layers. Spread whipped topping over pudding.
Refrigerate 3 hours or until ready to serve. Store leftover dessert in refrigerator. Makes 14 servings, about 2/3 cup each.