The Preparation
Rinse rice. Combine rice, whole milk, 1 cup half-and-half, cinnamon stick, and pinch of salt in a heavy-bottomed pot.
Bring to a gentle simmer over medium heat, stirring frequently. Reduce to low.
Cook 25-30 minutes, stirring often, until rice is tender and mixture is thick and creamy. It will thicken more as it cools.
Remove cinnamon stick. Stir in vanilla extract.
Make the tres leches soak: whisk together sweetened condensed milk, 1 cup heavy cream, and 1/2 cup half-and-half.
Pour the warm rice pudding into a serving dish or individual cups.
Pour the tres leches mixture over the rice pudding. Let it absorb for 10-15 minutes.
Whip remaining 1 cup heavy cream with powdered sugar to soft peaks.
Top with whipped cream, dust with cinnamon, and drizzle with dulce de leche.
Serve warm or let chill — both are excellent.
The Chef's Notes
Stir constantly in the last 10 minutes — rice pudding goes from creamy to scorched fast. The tres leches soak absorbs better while the pudding is still warm.