In large bowl, combine sweetened condensed milk and vanilla extract. With a blender, food processor or stick blender, pulse the strawberries until they are mostly pureed, but some large chunks remain. Stir the strawberries into the milk mixture. Beat whipping cream until it reaches stiff peaks. Gently fold whipped cream into milk and strawberries mixture.
Pour into 9 x 5 inch loaf pan or other 2 quart container. Cover tightly with plastic wrap. Freeze 6 hours or until firm.