In a medium-sized bowl, combine the chocolate pudding mix with 1 1/2 cups of milk, stirring until the mixture is smooth. Pour this into a prepared graham cracker crust.
Using an electric mixer, beat the cream cheese until creamy. Gradually add in the confectioners' sugar and mix until well incorporated. Gently fold in 2 cups of whipped topping and spread this mixture over the chocolate pudding layer.
In a separate bowl, whisk together the vanilla pudding mix with 1 1/2 cups of milk until smooth. Carefully layer this over the cream cheese mixture.
Finally, spread the remaining whipped topping on top of the vanilla pudding layer. Refrigerate the dessert for at least 30 minutes before slicing and serving.