Step 1

Stir sweetened condensed milk and peanut butter in a large bowl until smooth. Stir in vanilla.

Step 2

If using whipped topping: gently fold the whipped topping into the peanut butter mixture.

Step 3

If using fresh whipped cream: beat 2 cups of heavy whipping cream until stiff peaks form. Gently fold into the peanut butter mixture.

Step 4

Fold peanuts into the ice cream mixture. Fold salted caramel ice cream topping into the mixture but make sure not to stir it too much - you want it to swirl not mix in.

Step 5

Pour mixture into an airtight container, seal, and freeze overnight. Eat within 1 month.

Step 6

Serving suggestion: top with more salted caramel sauce and chopped peanuts.