The very smooth texture that the peanut butter brings to this ice cream is something to fall in love with... And I must say that the combination of peanut butter and strawberry jam (especially a homemade one) is truly wonderful.
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**Note: If you don't have an ice cream maker, pour the ice cream mixture into a wide, airtight container and put in the refrigerator for at least 1 hour. Then, place in the freezer for 30 minutes. Beat the ice cream mixture with an electric mixer until smooth. Put it back in the freezer for 40 minutes, then beat with an electric mixer. Repeat the "40 minute freeze-then-beat cycle" 3 times. You can choose to either beat the ice cream mixture every 40 minutes until frozen or let the ice cream mixture freeze on its own. Either method works fine but the more you beat it, the softer it will be.
In a bowl, combine the strawberry jam and ½ cup of the heavy cream. Mix until well blended. In a blender, whip the peanut butter, vanilla extract, sugar, milk, and remaining heavy cream until fluffy, then fold into the jam-cream mixture.
Chill the mixture for at least 1 hour. Pour into an ice cream maker and churn. Mix for about 25-30 minutes or according to the manufacturer's directions.** Transfer the ice cream to a tightly sealed container and freeze until ready to serve. (Store-bought ice cream containers will work well for this.)