In a medium saucepan on low-medium heat, combine peaches, 1 tbsp brown sugar, ¼ tsp cinnamon and a pinch of salt. Cook until the mixture is juicy and mushy (15-20 mins). Stir occasionally to help break down the fruit.
Stir in 1 tsp vanilla and (optional) 2-3 tbsp bourbon. Remove from heat and allow to cool completely.
In a large bowl, combine 1 can condensed milk with your peach mixture. Stir until fully incorporated.
Take about a cup of your whipped cream and fold into your condensed milk to lighten it up a bit.
Then fold your lightened condensed milk into your whipped cream.
Transfer the mixture into a freezer-safe container, smoothen the top and cover with plastic wrap to prevent ice from forming. Freeze 6-8 hours, preferably overnight.