Heat oven to 400°F. Bake pie crust as directed on package for one-crust baked pie shell. Cool completely, about 30 minutes. Reserve 8 vanilla wafer cookies; coarsely crush remaining 16 cookies. Set aside.
In large bowl, beat milk and pudding mix with whisk about 2 minutes or until thickened. Spoon 3/4 cup pudding into cooled pie shell. Top with half the crushed vanilla wafer cookies and half the banana slices. Repeat layers; top with remaining pudding. Cover surface of pie with plastic wrap. Refrigerate 3 hours to blend flavors.
Just before serving, remove plastic wrap. Top each serving with a dollop of whipped topping and a vanilla wafer cookie. Cover and refrigerate any remaining pie.