Spread 1 cup cherry pie filling on bottom of crust.
Pour milk into medium bowl. Add pudding mixes. Beat with wire whisk 1 minute. Gently stir in 1/2 of the whipped topping. Spread pudding mixture over pie filling in crust.
Spoon remaining whipped topping around the edge of pie forming a 1 inch border. Spoon remaining cherry pie filling over pudding mixture.