ADD milk gradually to peanut butter in medium bowl, stirring with wire whisk until well blended. Add whipped topping; stir until well blended. Set aside.
PREPARE pudding as directed on package. Spoon half of the pudding evenly into six parfait glasses; top with peanut butter mixture. Cover with remaining pudding.
REFRIGERATE at least 30 min. or until ready to serve. Store any leftover desserts in refrigerator.