In a small bowl, vigorously whisk the egg yolks together for several seconds until smooth.
In a medium saucepan, heat up the half and half and vanilla extract until it just begins to simmer. Pour some of the hot liquid into the egg yolks while whisking to temper them. Then add the contents of the bowl back into the saucepan and turn the heat to low.
Add the malted milk powder and sweetened condensed milk and whisk to combine the ingredients in the saucepan. Continue stirring over low heat for several minutes until the mixture begins to thicken slightly.
Remove the heat, pour the liquid into a bowl and allow it to cool for several minutes. Then place plastic wrap directly against the top of the liquid and refrigerate until cold. The plastic wrap will prevent a skin from forming.
Using an ice cream maker, prepare ice cream according to the manufacturer's instructions.