Makes 1 quart
Combine milk and cream, vanilla bean, cinnamon stick and ground cinnamon in a medium saucepan and heat until very hot but not boiling. Remove from the heat.
Mix the sugar and egg yolks in a large bowl. Slowly add some of the warmed cream mixture to the sugar and egg yolks whisking briskly to temper the eggs. Gradually add the remaining cream mixture, whisking until all combined. Return the new cream and egg mixture to the saucepan and cook over medium heat, stirring constantly with a wooden spoon until the mixture thickens (but does NOT scramble the eggs) and the back of the spoon is coated. It will resemble a very thin milk shake and take 3-5 minutes. Pour the custard into a clean bowl through a seive to get out the vanilla bean, cinnamon stick and any potentially cooked egg-y bits. Cover tightly. Refrigerate for at least 2 hours or overnight.
Finally, pour the cooled custard into an ice cream maker and freeze according the manufacturer's instructions, adding the cinnamon chips if you chose towards the end of the cycle.