2/3 cup sweetened condensed milk
1/2 cup cold water
1/8 tsp. salt
1 cup heavy cream, whipped
1 tbsp. vanilla extract

Combine milk, water, salt; chill, and fold in whipped cream and vanilla. Turn into an ice cream freezer and churn according to directions.

Note: If you don't have an ice cream machine, freeze until firm in any container in freezer and stir every 30 minutes, then return to freezer.

Variations:

Chocolate: Add 2 (1 oz. ea.) squares cooled, melted chocolate before folding in cream.

Coffee: Substitute strong coffee for water.

Strawberry: Add 1 cup crushed fresh, or quick-frozen, berries before folding in cream. 1 cup crushed raspberries, peaches, or sliced bananas may be substituted for strawberries.