In your blender or drink mixer, combine 2 cups ice cream, nutella and chocolate milk. Blend until smooth then add vodka and remaining ½ cup of ice cream.
Pour the Nutella Milkshake into two tall milkshake glasses. Pour 1 ounce of Creme de Cacao into the top of each glass.
Top each glass with whipped cream, drizzle with caramel sauce.
For a nonalcoholic version, omit the vodka and Creme de Cacao.
Recipe by Dining with Alice at https://diningwithalice.com/desserts/nutella-milkshake/