In a pot, bring whipping cream to a simmer, stirring to prevent milk solids from burning. Once simmering, turn off heat and add Thai tea leaves. Mix well, then steep for 5 minutes.
Strain cream to remove tea leaves. Keep cream in the freezer for at least 1.5 hours or until very cold (below 10°C) before whipping.
Pour condensed milk into a mixing bowl. In another mixing bowl, pour chilled cream in. Using an electric mixer, whip cream until stiff peaks form.
Add a portion of the whipped cream into the condensed milk and fold gently. Add the remaining cream into the condensed milk and fold until well combined.
Pour the mixture into a container and keep in the freezer for at least 4 hours or overnight. Serve ice cream in a cone or bowl.