Mix sweetened condensed milk and cold water on medium speed for 1 minute.

Add pudding mix and mix until pudding is smooth, about 2 minutes. Cover and refrigerate for 3-4 hours, or overnight.

Whip the heavy cream on medium speed for about a minute, then increase speed to med-high and whip until stiff peaks form, about 1-2 more minutes, do not to over whip.

Combine the whipped cream with the pudding mixture. I personally like to fold in the whipped cream using a spoon so the mixture keeps the fluffy texture. -