Beat cream cheese. Place cream cheese in the bowl of a stand mixer fitted with the paddle attachment. Beat on medium for 1 minute until smooth.

Add milk and vanilla. Scrape down the sides of the bowl, add sweetened condensed milk, vanilla, and salt and continue beating until combined and smooth. Scrape this mixture into a large bowl.

Whip cream. Add cream to the stand mixer bowl (no need to clean it out) and using the whisk attachment, whip the cream to stiff peaks, about 3 minutes.

Fold in cream and freeze. Add a third of the whipped cream to the cream cheese mixture and fold to combine. Add remaining cream and gently fold until completely incorporated. Scrape into a freezer-safe container with a tight lid and freeze at least 4 hours.