In a large bowl, whip the heavy cream until stiff peak. The cream will be good when the peak stands straight up after you lift the beaters.
In another bowl, whisk together sweetened condensed milk and vanilla extract until combined. Gently fold the mixture with the cream using a rubber spatula until it is incorporated.
Transfer the mixture to a chilled loaf pan or any kind of container, wrap up tightly with a plastic wrap. Freeze for at least 6 hours.