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1. In a medium saucepan combine granulated sugar, brown sugar, milk, and molasses. Cook and stir over medium heat until sugar dissolves; remove from heat. Slowly stir 1 cup of hot milk mixture into beaten eggs, then return to hot mixture in saucepan. Cook and stir over low heat just until bubbling; do not boil. Remove from heat. Cool slightly. Cover and chill.
2. Stir in whipping cream, chopped apple, and vanilla. Freeze in a 4- or 5-quart ice cream freezer according to manufacturer's directions. Ripen ice cream for 4 hours. Garnish with apple slices and caramel topping, if desired. Makes about 2 quarts (16 servings).