Add heavy cream to the bowl of an electric mixer with the whisk attachment. Whip until soft peaks form.
Slowly add in the sweetened condensed milk and vanilla extract.
Divide the mixture into 4 bowls.
Add 2 drops each of blue, green, purple food coloring and stir to combine. You should have 1 bowl white, 1 bowl purple, 1 bowl green and 1 bowl blue mixture.
In a metal loaf pan drop dollops of each color in a variety of places. Run a butter knife through the mixture to swirl the colors together.
Add the sprinkles and glitter in the grooves of the cream mixture.
Cover with plastic wrap and freeze overnight.