For the blue layer, stir blue jello into boiling water until dissolved. Add in cold water, pour into a large baking dish. Refrigerate for at least one hour, until the jello has set.
For the white layer, place 1 cup water into a medium bowl. Stir in unflavored gelatin, let sit for 2 minutes. Microwave for 40 seconds, stir to dissolve gelatin. Stir in sweetened condensed milk. Pour mixture over the set blue jello. Refrigerate for at least 30 minutes, until set.
For the red layer, stir cherry jello into boiling water until dissolved. Add in cold water, pour over white layer. Refrigerate for at least one hour, until jello is set. Cut into squares.
