A favorite flavor from soda-shop days turned into a low-fat ice cream.
Place gelatin in a small bowl; sprinkle in water and let stand until softened, 1 minute or longer.
Combine 1/2 cup milk, sweetened condensed milk, malted-milk powder, cocoa and corn syrup in a heavy medium saucepan; whisk until smooth. Bring to a simmer over medium heat, whisking constantly. Remove from the heat and add chocolate and the softened gelatin; stir until the chocolate has melted. Transfer the mixture to a bowl. Gradually whisk in the remaining 2 cups milk and vanilla until smooth. Refrigerate until chilled, about 1 hour.
Freeze the mixture in an ice cream maker according to manufacturer's directions.
Serve immediately or transfer to a storage container and let harden in the freezer for 1 to 1 1/2 hours. Serve in chilled dishes.
Make Ahead Tip: Freeze in an airtight container for up to 1 week.
Equipment: Ice cream maker
4 other carbohydrate