In a medium saucepan, pour in 2-3 cups of whole milk and add ½ cup of heavy cream. Heat over medium heat for about 3 minutes, until steam begins to rise.

In a large bowl, whisk together ½ cup of high-quality cocoa powder with 1-2 tablespoons of grated milk chocolate. Gradually add ½ cup of the hot milk mixture, whisking until smooth.

Pour the chocolate mixture back into the saucepan with the remaining heated milk. Stir in ½ cup of sweetened condensed milk and 1 teaspoon of vanilla extract, whisking until well blended.

Reduce heat to low, allowing the hot chocolate to simmer for 3-5 minutes, stirring often until it thickens.

Ladle into mugs while still hot, and top with whipped cream, ground cinnamon, or chocolate shavings.