Place Evaporated Milk, Blades/Whisk of Electric Beater/Stand Mixer, and Stainless Steel Bowl in a freezer for 30 minutes. *This step is crucial, as all of these things have to be icy cold in order for this technique to work.
Add cold Evaporated Milk to chilled bowl, and whisk on high speed for 30 seconds until milk begins to increase in volume.
Add Powdered Sugar and Vanilla, and continue whisking until mixture resembles whipped cream.
Cover bowl, and place in freezer for one hour.
Remove from freezer, and whisk again for one minute.
Repeat this process two to three times until the mixture resembles the texture of Ice Cream.
Transfer to an airtight container and store in freezer until ready to serve.