Preheat oven to 350 degrees F (175 degrees C). Spray a 12-cup fluted tube pan (such as Bundt(R)) with cooking spray. Pour 11 ounces caramel topping into prepared pan. Spray a sheet of aluminum foil with cooking spray.
Beat cake mix, 3 eggs, oil, and water together in a bowl with an electric mixer on low speed for 30 seconds; increase speed to medium and beat for 2 minutes more, occasionally scraping down the sides of the bowl. Mix banana and 1/2 teaspoon almond extract into batter; pour batter into the prepared pan.
Beat sweetened condensed milk, evaporated milk, 5 eggs, milk, cream cheese, and 1 teaspoon almond extract together in a bowl using an electric mixer until smooth; pour over cake batter. Cover fluted tube pan tightly with prepared aluminum foil, sprayed-side down. Set fluted tube pan into a large baking dish and fill baking dish with about 2 inches of water, creating a water bath.
Bake in the preheated oven for 2 hours. Remove fluted tube pan from water and allow to cool for 15 minutes. Remove aluminum foil and invert cake onto a serving dish. The caramel topping should flow down the sides of cake.
Cool cake to room temperature and refrigerate, 8 hours to overnight. Drizzle remaining caramel sauce over cake before serving.