In the bowl of a stand mixer, combine 2 cups heavy cream, 7 ounces condensed milk, and the pink cotton candy. Beat until soft peaks form. Transfer to a separate bowl, and set aside.
In the same bowl, combine the remaining 2 cups heavy cream, 7 ounces condensed milk, and the blue cotton candy. Beat until soft peaks form.
In a loaf pan, layer the ice cream alternating the pink and blue. Top with sprinkles and chocolate chips, if desired. Freeze overnight.
Store in the freezer 1-2 weeks.
