Prep the pans and oven. Heat the oven to 350°F (175°C).
Grease and line three 8-inch round cake pans with parchment. Lightly flour the sides.
Combine dry ingredients. In a bowl, whisk flour, baking powder, baking soda, salt, and cinnamon. Set aside.
Cream butter and sugar. In a large bowl, beat butter and granulated sugar on medium-high until pale and fluffy, about 3 minutes.
Add eggs and vanilla. Beat in eggs one at a time, then mix in the vanilla.
Scrape the bowl as needed.
Mix in bananas, sour cream, and milk. Stir in mashed bananas and sour cream. On low speed, add half the dry mixture, then the milk, then the remaining dry mixture. Mix just until combined.
Bake. Divide batter evenly among the pans.
Bake 20–25 minutes, or until a toothpick comes out clean. Cool in pans 10 minutes, then turn out onto racks to cool completely.
Make the pudding filling. Whisk pudding mix with cold milk for 2 minutes. Let it thicken for 5 minutes in the fridge.
Fold in whipped cream. Keep cold.
Make the cream cheese frosting. Beat cream cheese until smooth. Add butter and beat until combined and fluffy.
Gradually add powdered sugar, vanilla, and salt. Adjust with a little cream if needed. You want a spreadable but sturdy frosting.
Level the cake layers. If the cakes domed, trim the tops with a serrated knife so the layers stack evenly.
Assemble. Place the first cake layer on a board.
Pipe a thick ring of cream cheese frosting around the edge to create a dam. Spread half the pudding in the center. Top with a layer of sliced bananas and a handful of crushed wafers.
Add the second cake layer and repeat.
Crumb coat and chill. Add the final cake layer. Spread a thin coat of frosting over the whole cake to seal in crumbs. Chill 20–30 minutes.
Frost and finish. Apply a final generous layer of frosting.
Decorate the top with more wafer crumbs and, if serving soon, a few banana slices. Chill for at least 30–60 minutes before slicing for cleaner cuts.