Preheat oven to 350 degrees F. Line 12 cup muffin tin with liners. Place one vanilla wafer in each cup, flat side down. Set aside.
In a medium bowl, whisk together the sweetened condensed milk, lime zest, lime juice and eggs until well combined. Divide mixture evenly among the lined muffin cups. (You'll need about 3 Tablespoons of mixture for each cup.)
Bake for 10-15 minutes or until set. Remove from oven and cool completely in the pan. (Once the pies are fully set but still warm, you can tilt them on their sides in the pan to allow air to circulate around the bottom of the pie.)
Whip cream with the powdered sugar to stiff peaks (if you want to pipe it) or soft peaks if you'd prefer to use a spoon. Top each pie with some whipped cream and garnish with a lime wedge, if desired.
*Use key limes if you can find them. If not, regular limes will be just fine.
*I used about 3 small (regular) limes to get 1 Tablespoon of zest. I used about 4 1/2 small (regular) limes to get 1/2 cup juice. Key limes are generally smaller than typical limes, so you'll need more than the amount I used to get the same amount of zest and juice.
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