Beat first three ingredients for second layer together. Add food coloring to make it pink. Spread on cooled crust.
Blend cream cheese and pineapple; then fold in sweetened whipped cream. Add food coloring to make it pale yellow. Spread on second layer.
Mix pudding and milk for 2 minutes. Spread on third layer.
When pudding has set up, top with cream that has been whipped and sweetened to taste with powdered sugar. Sprinkle with chopped nuts.