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.
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.