Step 1: In a large bowl, use an electric mixer to whip the cold heavy cream until stiff peaks form. Gently fold in the sweetened condensed milk and vanilla extract until well combined.

Step 2: Fold in the cereal and stir until evenly distributed throughout the mixture.

Step 3: Pour the mixture into a freezer-safe container (such as a loaf pan). Lay plastic wrap on top of the ice cream to avoid freezer burn. Cover the container and freeze for at least 6 hours or until solid.

Step 4: Once frozen, let the ice cream sit at room temperature for a few minutes to soften slightly before scooping and serving.