A multi-layer downhole drilling tool designed for drilling a wellbore including a plurality of formations is disclosed. The drilling tool includes a bit body and a plurality of primary blades and secondary blades with respective leading surfaces on exterior portions of the bit body. The drilling tool further includes a plurality of first layer cutting elements and second layer cutting elements located on the leading surfaces of the primary blades and secondary blades, respectively. Each second layer cutting element is under-exposed with respect to the corresponding first layer cutting element. The amount of under-exposure is selected according to each second layer cutting element having an initial critical depth of cut greater than an actual depth of cut for a first drilling distance and a critical depth of cut equal to zero at a target drilling depth.