Warm Nutella. Pour sweetened condensed milk into a large bowl. In a separate bowl, whip the cream until stiff peaks form. Add a little of whipped cream to milk and fold it in. Fold in the chocolate chips.
Pour the ice cream mixture into an 8×4″ loaf pan. Pour the Nutella over the top and then use the tip of a knife to swirl it into the ice cream mixture. Cover the pan with plastic wrap and freeze the ice cream until firm, overnight is best.