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In a mixing bowl, beat the sugar into the eggs until thickened and pale yellow; set aside.
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In a saucepan, bring the milk to a simmer; slowly beat the hot milk into the eggs and sugar mixture.
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Pour the entire mixture back into the pan and place over low heat.
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Stir constantly with a whisk or wooden spoon until the custard thickens slightly (be careful not to let the mixture boil or the eggs will scramble).
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Remove pan from heat and beat in the peanut butter.
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Pour the hot custard through a strainer into a large clean bowl.
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Allow the custard to cool slightly.
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Stir in the cream and vanilla; cover and refrigerate until cold or overnight.
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Stir the chilled custard; then freeze in 1 or 2 batches in you ice cream maker according to manufacturer’s directions.
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When finished, the ice cream will be soft but ready to eat; for firmer ice cream, transfer to a freezer-safe container and freeze several hours.
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*Chocolate Peanut Butter Ice Cream: add ½ cup miniature chocolate chips to the machine when the ice cream is semifrozen; allow the machine to mix in the chips; proceed as directed.