In small saucepan over medium heat, heat milk, cinnamon stick, orange peel and cloves to boiling. Reduce heat to low; cover and simmer 5 minutes to blend flavors. Set aside to cool to room temperature. Strain mixture.
In large bowl combine milk mixure, vanilla extract, sweetened condensed milk and Tabasco pepper sauce. Gently fold in whipped cream. Cover and freeze until firm, stirring once.
To serve, scoop ice cream into glasses or dessert dishes. Garnish with cinnamon sticks and orange peel twists, if desired.