Heat 1 1/2 cups fruit cocktail liquid to boiling (if not enough liquid, add water to make 1 1/2 cups liquid).
Add gelatine; stir until dissolved.
Cool to room temperature.
Place half of graham crackers in one layer on bottom of 13 x 9 x 2-inch pan.
Beat butter until creamy; gradually beat in powdered sugar; add 1/3 cup evaporated milk, stirring in about 1 Tbs.
at a time; beat well after each addition; spread over graham crackers in pan.
Top with remaining graham crackers in a single layer.
Refrigerate.
Divide cooled gelatine into two equal portions.
Stir 1 1/3 cups evaporated milk into one portion.
Chill until slightly thicker than unbeaten egg whites.
Beat until fluffy.
Spread over graham crackers.
Refrigerate until firm.
Stir 1/2 cup water and drained fruit cocktail into remaining dissolved gelatine.
Pour over chilled gelatine-evaporated milk mixture.
Chill until firm.
Cut into squares and serve.