Combine sweetened condensed milk and cocoa in a small saucepan. Cook and stir over medium low heat till thick and creamy, about 3-4 minutes. Cool slightly.
Stir in cream, milk, and vanilla. Chill for 6-8 hours or till very cold.
Churn in an ice cream maker according to manufacturer's instructions. Add almonds during last few minutes of freezing time.
Pour into an airtight container and freeze for about 2 hours.