1In a large bowl, combine condensed milk and cocoa.
2In a bowl, using an electric mixer, beat cream and vanilla together until soft peaks form. Fold cream through milk mixture, then swirl through chocolate. Transfer to a 2 L freezer container. Freeze 6 hours to firm.
3Halve doughnuts horizontally. Place a scoop of ice-cream on each half and top with other half.
4Place hundreds and thousands in a bowl. Quickly roll doughnut in sprinkles. Serve straight away.
Top Tip: Have all ingredients ready before you begin to assemble to prevent too much melting. Refreeze for a few minutes if too soft to serve.
Photo: Rob Shaw/Bauersyndication.com.au