Pour the red wine into a small saucepan and simmer over low heat for 5 minutes to partially evaporate the alcohol. Let it cool completely.
Wash the strawberries and peach, then blend until smooth with the orange juice, honey, and lemon juice.
In a large bowl, combine the fruit puree with the cooled red wine and vanilla extract.
Whip the heavy cream until soft peaks form, being careful not to overwhip.
Gently fold the whipped cream into the sweetened condensed milk, then add the sangria fruit mixture and mix thoroughly.
Pour the mixture into an airtight container and place in the freezer for at least 4-6 hours, or until completely frozen.
Before serving, let the ice cream stand at room temperature for 5 minutes to soften slightly and make it easier to scoop.
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