Beat cream cheese & sweetened condensed milk. Add in pudding mix, milk & vanilla and beat until completely mixed.
In a separate bowl, beat heavy cream until soft peaks form. Add powdered sugar and continue beating until stiff peaks form. Set 2 1/2 cups aside.
Top with remaining whipped cream. Cover and refrigerate 4 hours or overnight.
(Nutrition information provided is an estimate and will vary based on cooking methods and brands of ingredients used.)