Preheat oven to 350°F
Toast the jasmine rice, cinnamon sticks, and star anise in the oven until fragrant and lightly browned (should smell like cinnamon)
Soak the toasted rice and spices in 4 cups of water overnight (at least 12 hours) for proper blending
Strain the soaked mixture well to remove excess chunks
Blend the strained liquid until smooth
Add evaporated milk and sweetened condensed milk to the blended mixture
Add vanilla extract
Finish with the remaining 4 cups of water
Add ice and serve
