You can use cream with a lower percent of fat, like "Light Cream" (~20%) or something like that. But I believe it will not trap as much air or hold very well.
Whipped cream is a foam stabilized by fat. By whipping air into it, air bubbles are trapped in a network of fat droplets, which stick to each other, and holds the foam.
That means, a higher percent of fat would whip better and be more stable because of more fat droplets in the network to hold it together.
I can't think of any other low fat alternatives for a "low fat" whipping cream. I won't recommend whipped cream in a can, but they may come in low fat versions, but whipped cream in a can just dosen't taste the same.
Hope this helps.