In a large bowl, beat/whisk all purpose cream until it doubles in volume.
Fold in condensed milk and continue to beat until it is well combined with the cream. Set aside.
Remove the cherry stalks and cut them in halves. Set aside.
In a baking pan, layer graham crackers enough to fill the base of the pan.
Spread a layer of cream mixture enough to cover the crackers.
Sprinkle with fruit cocktail on top then cover it a layer of cream mixture then with another layer of crackers.
Repeat steps 5 to 6 until you reach your desired height of the cake or until it leaves only an inch and a half from the top of the pan.
Spread another layer of cream mixture and sprinkle with fruit cocktail and cherries.
Cover the pan and refrigerate overnight before serving.
Slice, plate and serve.