In a separate bowl add in condensed milk and sugar. Blend until combined.
Pour condensed milk mixture into whipped cream whipping constantly.
Now add in the food coloring and mix again.
Pour mixture into loaf pan.
Scoop out 4 scoops of frosting and use a knife to swirl the frosting into the ice cream.
Add 3 more scoops of frosting on top and then spread it on top of the ice cream mixture like you would with peanut butter on a sandwich. This will create more of that swirl look on top.