Place the strawberry ice cream, bananas, milk, and chocolate chips in a blender. Blend for about 40 seconds until smooth. (Allow a few chocolate chips to stay whole).
Divide the mixture into four tall glasses. Top each glass with 1 oz of whipped topping. Drizzle 1 Tbsp of caramel sauce and 1 Tbsp of chocolate syrup on the whipped topping. Divide the walnuts among the shakes. Then finish each milkshake with a cherry.
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