In a separate bowl whip heavy cream until it is stiff, about 3 minutes with an electric hand mixer.
Mix a scoop or two of whipped cream into the condensed milk. This will lighten the condensed milk and will make it easy to fold in the rest of the cream.
Transfer remaining whipped cream to condensed milk and gently fold using the low setting on the hand mixer. Do not over fold, which could deflate the cream.
Transfer condensed milk cream mixture (ice-cream) to a freezer safe container. Smooth the top and place a piece of wax paper on the top of the ice-cream and gently press it onto the ice-cream. This prevents formation of ice crystals on the top.
Let it freeze for at least 6 hours. For a firmer ice-cream, freeze longer. For the best texture and flavor, eat it within two weeks. I made it 11 days ago and it is still fresh.
Notes
Flavors - Use any flavor you like. I tried almond extract.
Oreo Cookies - Fold in crushed Oreo cookies for Oreo cookie ice cream. In the above recipe you will need one and half dozen cookies. Adjust the cookies to your liking.
Nuts - Finely chopped nuts are a nice addition to this ice cream