Add the cold heavy cream and vanilla extract to the bowl of a stand mixer fitted with the whisk attachment and beat on medium speed until stiff peaks form, about 2-3 minutes. 

Next, add the sweetened condensed milk and gently fold it into the whipped cream. You don’t want to deflate the whipped cream so make sure to fold gently. 

Add half of the ice cream base to a 9x5 loaf pan.

Top with half of the chopped cake and half of the sprinkles.

Dollop half of the frosting over the ice cream base. 

Add the remaining ice cream base to the pan and top with the remaining cake, sprinkles, and frosting.

Swirl the frosting into the ice cream base just until they are barely mixed. 

Wrap the loaf pan tightly with plastic wrap and freeze overnight (at least 8 hours), or until completely set. 

Enjoy in a bowl or cone topped with additional sprinkles. 

Store the ice cream tightly wrapped in the freezer for up to two weeks.