Using a large mixing bowl, beat together the banana pudding and milk for about 5 minutes.
Mix in the Sweetened condensed milk until smooth
Mix in the cream cheese until smooth
Fold in the cool whip until smooth
Scoop the pudding into the piping bag
Using a standing mixer, beat all the frosting ingredients until creamy and stiff peaks
Scoop into the piping bag
Building the cake directions
Place one cake round onto the cake board
Using the cake frosting, pipe a thick outline around the edge of the cake. This will be the barrier to keep the pudding in the middle
Pipe pudding into the middle of the cake layer
Place the second cake layer on top of the first one
Repeat steps with the frosting and pudding with the second cake layer
Place the third cake layer on top
Using the remaining frosting, frost entire cake
Sprinkle the toasted coconut onto the bottom of the cake
Pour the caramel sauce into the squeeze bottle and squeeze it along the top edge of the cake that way the sauce drips down along the sides.
Using the remaining frosting in the piping bag, pipe dollops of frosting along the top
Sprinkle with toasted coconut and place a Nilla wafer cookie against the frosting dollops
Place in the fridge for 1 hour to allow the frosting to harden before cutting into slices and enjoying.