Mix 1 ½ cup milk, cream, evaporated milk and sugar in a medium saucepan and warm over medium heat and bring base to a boil; boil for 3 minutes, stirring frequently. Remove from heat.
Combine condensed milk, cocoa, butter, salt and remaining ¼ cup milk in a medium saucepan. Warm over medium-low heat and cook until ingredients are combined.
Raise heat to medium and continue cooking until thickened, stirring constantly, about 5 minutes. Remove from heat and pour into ice cream base.
Return entire ice cream base to medium heat, whisking to combine ingredients. Remove from heat and pour into a medium bowl. If lumps of cocoa powder remain in the base, use an immersion blender to completely incorporate ingredients.
Set bowl in the ice water bath until cool to the touch, about 20 minutes. Refrigerate for at least two hours or until completely cool, preferably overnight.
When the base is thoroughly chilled, pour into ice cream maker and freeze according to manufacturer’s instructions. Transfer to a freezer-safe container and freeze for at least 4 hours.
Note: Add a teaspoon of fine sea salt to this recipe to make a Salty Brigadeiro.