Add the cold heavy whipping cream to a large mixing bowl. Beat with an electric mixer on medium-high speed until stiff peaks form. The whipped cream should be thick and fluffy. Refrigerate while preparing the filling.
In another large bowl, beat the softened cream cheese until completely smooth and creamy with no lumps remaining.
Pour the sweetened condensed milk into the cream cheese mixture and mix until fully combined.
Add the key lime juice, lime zest, and vanilla extract. Continue mixing until the filling becomes smooth, creamy, and slightly thickened.
Gently fold the whipped cream into the key lime mixture using a rubber spatula. Fold slowly to keep the filling light and airy.
Step 6
Arrange a layer of graham crackers across the bottom of a 9x13 inch baking dish. Break crackers into smaller pieces as needed to fit the edges.
Spread a layer of the creamy key lime filling over the graham crackers using a spatula.
Repeat the layers of graham crackers and filling until all ingredients are used, finishing with a final layer of filling on top.
Cover the baking dish tightly and refrigerate for at least 6 hours or overnight for the best texture.
Top with whipped cream, fresh lime zest, and lime slices before serving. Slice and serve chilled.