Melt the butterscotch chips and peanut butter together in a large microwave-safe bowl in the microwave. Then stir in 4 to 5 cups of corn flakes and 1 cup of dry roasted peanuts. Drop by rounded teaspoonfuls on wax paper. Store in an airtight container between layers of wax paper.

Using an electric mixer, beat the eggs for several minutes until thick and lemon colored. Add 1 cup of milk and blend into the eggs. Mix sugar and cornstarch in a large saucepan. Add egg/milk mixture to the sugar and cornstarch. Cook until thick (about 5 minutes) stirring constantly. Allow the custard mixture to cool to room temperature.

Mix the milk, vanilla and sugar together in one of the quart size bags. Seal tightly, allowing as little air to remain in the bag as possible. Too much air left inside may force the bag open during shaking. Place this bag inside the other quart size bag, again leaving as little air inside as possible and sealing well. By double-bagging, the risk of salt and ice leaking into the ice cream is minimized. Put the two bags inside the gallon size bag and fill the bag with ice, then sprinkle salt on top. Again let all the air escape and seal the bag. Wrap the bag in the towel or put your gloves on, and shake and massage the bag, making sure the ice surrounds the cream mixture. Five to eight minutes is adequate time for the mixture to freeze into ice cream.