To prep the cookie dough:
Cream the butter and sugars on medium speed with a hand mixer for one minute. Add the clear vanilla extract and stir to combine. Add the flour and stir on low speed until the dough almost comes together into clumps. Add the sprinkles and stir just to combine. Set aside in the fridge while you make the ice cream.
For the ice cream:
Whip the heavy whipping cream in the bowl of stand mixer on medium high speed until soft peaks form. Add the clear vanilla extract and continue whipping just until stiff peaks form. Fold the condensed milk into the whipped cream and add the sprinkles and the crumbled cookie dough when the milk is almost combined. Spread the mixture into a loaf-pan or freezer-safe container and allow to freeze until firm, about 6 hours or overnight.