Gather the ingredients.
Put the bowl and beaters in the refrigerator or freezer about 10 to 15 minutes before beginning.
Put the unflavored gelatin in a microwave-safe bowl or 1-cup measuring cup. Add the cold water and let stand for 5 minutes, until very thick. Put the thickened gelatin in the microwave. Microwave the gelatin until it dissolves and becomes liquid, about 7 to 10 seconds. Check after 5 seconds, then check it every few seconds until it is completely liquified but not hot. You can also use a double boiler to liquefy the gelatin mixture.
Pour the cream into the cold mixing bowl. Beat with an electric mixer on high speed until it begins to thicken, then beat in the confectioners' sugar . Add the vanilla or other flavoring and continue beating until thick but not quite to the soft peak stage.
While still beating constantly, pour the liquid gelatin into the cream in a thin stream (if the gelatin has thickened again, heat again for a few seconds, just until liquid). Continue beating until soft or stiff peaks form, as desired. Serve the stabilized whipped cream or store for up to two to three days in an airtight container in the fridge.
Tips
Freeze it: You can freeze this whipped cream (or any whipped cream) in serving-size portions. Just line a baking sheet with wax paper and pipe or spoon the portions onto the paper. Freeze, then transfer to a container and store in the freezer.
Over whipped: As soon as you realize you have over whipped, stop. It may still be salvageable. If it looks grainy, add a few tablespoons of fresh cream and mix it in by hand gently a few times using a wire whisk. If it's separated, then you have been beaten. The only thing you can do with separated cream is to continue whipping since you are now on your way to making butter.
Recipe Variation
To make a vegetarian version, instead of the gelatin, use 1 tablespoon of skimmed milk powder, which is also called nonfat powdered milk or nonfat instant dry milk.
Why Is My Whipping Cream Not Thickening?
Heavy cream needs to be very cold to whip properly, so start by making sure that your cream and even your mixing bowl are cold. Add sugar and other ingredients after the cream has already started to thicken, and don't add too much since this will inhibit the whipping process. For best results, use an electric mixer.