In a large mixing bowl, whip cold heavy cream using an electric mixer until stiff peaks form, about 3-5 minutes.

In a separate bowl, combine sweetened condensed milk and vanilla extract; gently fold the whipped cream into this mixture until fully incorporated.

Cover and refrigerate the ice cream base while preparing the peach compote.

In a medium saucepan over medium heat, combine diced ripe peaches, granulated sugar, and a splash of vanilla extract. Cook until thick and jammy, about 8-10 minutes.

Remove from heat and let the compote cool completely.

Preheat your oven to 350°F (175°C) and line a baking sheet with parchment paper.

Combine melted butter, sugar, milk, flour, baking powder, and salt until a crumbly mixture forms. Drop onto the baking sheet.

Bake for 12-15 minutes until golden brown, then allow to cool completely.

In a loaf pan, layer ice cream base, peach compote, and cobbler crumbs. Repeat layers and finish with crumbs.

Cover tightly and freeze for at least 6 hours or overnight.

Let ice cream sit at room temperature for about 5 minutes before serving.