In the bowl of your stand mixer, or in a large bowl with a hand mixer, whip the whipping cream on high speed until it reaches the soft peaks stage.
Continue whipping the cream on high speed and slowly add the Eagle Brand® Sweetened Condensed Milk in a steady stream until the mixture reaches hard peaks (be careful not to over-whip...you definitely don't want the mixture turning into butter!).
Place a layer of thin chocolate wafer cookies in the bottom of a a 9x13 rectangular pan. Top the wafer cookies with a thin layer of the whipped cream mixture and sprinkle half of the chopped cherries evenly over the whipped cream mixture.
Add one more layer of chocolate wafer cookies, another layer of the whipped cream mixture, and the rest of the chopped cherries.
Add the last layer of chocolate wafer cookies and top with the remaining whipped cream mixture, smoothing it out on the top.
Cover the cake with some plastic wrap and place it in the fridge for at least 24 hours to set.
Once you're ready to serve, simply remove the cake from the fridge and uncover it, arrange the fresh cherries on top so there's one for each slice, and crumble a few of the leftover wafer cookies on top, or top with some shaved dark chocolate.
Serve immediately, and enjoy!