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BEAT Neufchatel in large bowl with electric mixer on low speed until smooth. Gradually add 1/2 cup of the milk, mixing until well blended. Add remaining 1-1/2 cups milk and pudding mix. Beat on low speed 2 minutes or until well blended. Gently stir in whipped topping.
MIX pineapple and raspberries.
ARRANGE 1/3 of the cake cubes in 3-quart serving bowl; cover with layers of 1/3 each of the fruit and pudding mixtures. Repeat all layers 2 more times. Refrigerate until ready to serve.