In a large bowl whisk together sweetened condensed milk and vanilla extract. Set aside.

In the bowl of a stand mixer with the whisk attached (or you can use a hand mixer) whip heavy cream until stiff peaks form, 3 - 4 minutes.

Gently fold one scoop of the whipped cream into the sweetened condensed milk. Once mixed, gently fold in the remaining whipped cream. Mix just until combined, don't over mix.

Spoon half of the ice cream mixture into an 9x5 bread pan. Drizzle 1/4 cup of caramel sauce over top. Scatter 1 cup chopped Snickers candies over the caramel. Spoon remaining ice cream over the top. Spread evenly with a spatula. Drizzle with remaining 1/4 cup caramel sauce. Scatter remaining 1/4 cup Snickers candies and chopped peanuts over the top. Cover and freeze until frozen, at least 4 hours. If you would like a firmer ice cream freeze overnight. Scoop and serve.