Add condensed milk and 2.5 cups of milk to a clean saucepan over medium to low heat.
Warm the milk mixture to boiling point, stirring well to avoid the condensed milk from burning.
In the meanwhile, use the remaining half cup milk, add it to a clean bowl.
Add in the cornflour, custard powder, eggs and vanilla essence.
Mix well until combined.
Once the milk mixture is at boiling point, pour a little of the hot milk into the egg mixture.
Mix it to combine.
Now add the warmed egg milk mixture to the rest of the hot milk.
This step must be done quickly to avoid the egg from curdling.
Return the saucepan to the heat and continue to mix until the milk mixture thickens and cooks through.
This should take +- 3 minutes.
The milk mixture should be smooth and silky.
Pour this into a greased dish, dust with cinnamon and leave to set in the fridge for a minimal of one hour.
Slice and serve.