In the bowl of a mixer, or tall container with an immersion blende place heavy cream, cocoa, powdered sugar, dry milk, and vanilla extract.
Stir to combine gently, then whip on high speed until the mixture is whipped fully, thick and creamy and when the whip attachment is pulled out of the frosting it forms a stiff peak (but do not overmix, it will become dry. If you do over whip it, just add a couple of tablespoons heavy cream and mix it in to smooth it out)
Place the frosting in a piping bag with a star shaped tip (I used a 2D tip) to pipe the frosting, or spread it on with a firm spatula.
There will be enough chocolate whipped cream frosting for 12 cupcakes or a 13x9 cake, so adjust the amount if you'd like more or less.