Step 1

In a bowl, combine dulce de leche and 1/4 cup of the heavy cream and beat until smooth.

Step 2

In another larger bowl, combine remaining heavy cream and vanilla extract.

Step 3

Using an electric mixer, beat the cream. Start on low, then more to high, until stiff peaks form.

Step 4

Gently fold in about 3/4 of the dulce de leche mixture. Be careful not to deflate the whipped cream.

Step 5

(Leave about 1/4 of the dulce de leche mixture for the top).

Step 6

Scoop half of the whipped cream mixture into a loaf pan.

Step 7

Add half of the reserved dulce de leche mixture over the top of the cream mixture.

Step 8

Using a knife, swirl the caramel into the cream.

Step 9

Repeat with the remaining ingredients - Add the whipped cream mixture and the dulce de leche mixture to the loaf pan.

Step 10

Swirl the caramel on top.

Step 11

Cover loaf pan and place in the freezer until solid, at least 6 hours, preferably overnight.