WHIP CREAM: In a large mixing bowl, beat 2 cups heavy whipping cream with an electric mixer until stiff peaks form, about 3 to 4 minutes.
MAKE BASE: In a separate bowl, combine 1 14 ounce can sweetened condensed milk, 1/2 cup dry vanilla or white cake mix, and 1 teaspoon pure vanilla extract. Stir until smooth and fully combined.
FOLD MIXTURE: Gently fold the whipped cream into the condensed milk mixture in batches until fully combined. Do not overmix, the mixture should stay light and fluffy.
ADD MIX-INS: Fold in 4 to 5 vanilla cupcakes, crumbled and 1/4 cup sprinkles until evenly distributed.
TRANSFER: Spoon the mixture into a loaf pan or freezer-safe container and smooth the top.
TOP: Sprinkle additional sprinkles over the top.
FREEZE: Cover tightly with plastic wrap or a lid and freeze for at least 6 hours, or until fully frozen.
SERVE: Let the ice cream sit at room temperature for 5 minutes before scooping for easier serving.
Notes
Make-Ahead: This ice cream can be made up to 2 weeks ahead and stored in the freezer.Storage: Store in an airtight container in the freezer for up to 2 weeks.Freezing Tip: Press plastic wrap directly onto the surface before covering to prevent ice crystals.Ingredient Tip: Use cold heavy cream for the best volume and structure when whipping.