In a heavy-bottomed saucepan, combine the milk and cream. Heat over medium heat, allowing it to simmer gently and reduce, stirring occasionally.
Once the milk has reduced by about half, add the sweetened condensed milk and sugar. Stir until completely dissolved.
Stir in the ground cardamom, chopped almonds, and pistachios, mixing well to combine.
Add the rose water for extra aroma, mix well, and allow the mixture to cool to room temperature.
Pour the cooled mixture into a freezer-safe container and freeze for at least 6 hours. Every hour, stir vigorously to prevent large ice crystals from forming.
Before serving, let the ice cream sit at room temperature for a few minutes to soften slightly. Garnish with extra almonds and pistachios.
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