If you have nothing else and want to make the dessert now, I would go ahead. If you or someone you are serving has problems digesting dairy foods, and you have time to shop, get a vegan whipped cream (either ready-to-eat or ingredients to make it). If you need to fold it into the dessert and want something lower in fat or calories, use a combination of milk and butter, some evaporated milk, or some yogurt.
If it just for a topping, sure, but if it goes into the dish somehow, I would hesitate. Cool whip contains stabilizers and other such ingredients that might not turn out right.
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If you or someone you are serving has problems digesting dairy foods, and you have time to shop, get a vegan whipped cream (either ready-to-eat or ingredients to make it).
If you need to fold it into the dessert and want something lower in fat or calories, use a combination of milk and butter, some evaporated milk, or some yogurt.