Cut cake (this can be a thawed, frozen angel food cake) into 1/4 in slices on bottom of 13x9 in baking dish. In large mixer bowl, combine sweetened condensed milk, water, and extract, mix well. Add pudding mix, beat well. Chill 5 minutes. Fold in whipped cream. Spread half the cream mixture over cake slices, top evenly with one can cherry or peach pie filling. Top with remaining cake slices. Cream mixture and cherry filling. Chill 4 hours or until set. Cut into squares to serve. Refrigerate leftovers.