Whisk together condensed milk with cocoa powder until well combined.
Stir in the chocolate chips. Set the bowl aside.
Whisk heavy cream in a stand-in mixer or a handheld mixer for 6-8 minutes till the mixture is thick and creamy. (Note: When you are whisking or beating whipped cream, soft peaks form and then eventually the cream will thicken. Stop whisking at that point.)
Add the condensed milk-chocolate mixture to the whipped cream. Mix well to combine using a whisk or a spatula.
Transfer to an airtight freezer container and sprinkle it with chocolate chips.
Cover it with a lid or shrink-wrap to prevent freezer burns.
Freeze the ice cream mixture for 6-8 hours.
Let the ice cream sit on the countertop for 2 -3 minutes before scooping them out.
Notes
You don't need a stand mixer to whisk the ice-cream. You can use either the whisk attachment or beater attachment of the hand mixer as well.
I prefer using mini chocolate chip morsels. The bigger the size of the chocolate chips the chunkier the ice cream gets.
Drizzle it with magic sauce to make it even more chocolatey.
You can also make chocolate swirl ice cream by just folding in the chocolate-condensed milk base and not completely mixing it.