In a medium bowl, stir together condensed milk, vanilla, Frangelico, and coffee. With a stand mixer, whip the heavy cream on medium-high until soft peaks form.
Whisk one third of the whipped cream into Frangelico-coffee mixture. Fold the remaining whipped cream into the mixture until it is incorporated. Pour into a loaf pan (see note), and freeze until firm, 6 hours [or, covered, up to 1 week].