Instructions

1. In a medium pot, cook the milk over low heat until just barely warm to the touch (75–80°F). Transfer the milk to a stand mixer fitted with a dough hook, sprinkle in the yeast, and set aside until slightly foamy, 3–5 minutes. Add the flour, sugar, and salt, then mix on the lowest speed just until a shaggy dough begins to form, about 4 minutes. Turn the speed up to the second-lowest setting, add the butter, and continue mixing, scraping the bottom and sides of the bowl occasionally, until the butter is thoroughly incorporated and the dough is smooth and elastic, 8–10 minutes. Remove the dough hook, cover the bowl tightly with plastic wrap, and refrigerate for at least 6 hours, or up to 2 days.
2. Lightly oil a clean work surface. Line a large baking sheet with parchment paper and lightly oil the paper as well. Turn the dough out onto the work surface and, using a bench knife or chef’s knife, divide into eight 2½-ounce portions. Roll each portion into smooth balls, cover loosely with plastic wrap, and set aside at room temperature until the buns have nearly doubled in size, 45–60 minutes.
3. Place a wire rack in a large rimmed baking sheet and set it aside. Into a heavy pot fitted with a deep-fry thermometer, pour oil to a depth of 2 inches and turn the heat to medium-high. When the temperature reads 325°F, working in batches, gently drop the dough portions into the oil and fry the buns, using a metal spoon to occasionally flip them and baste the tops with the oil, until the exterior is blistered and deep golden brown, 4–6 minutes per batch. Using a slotted spoon or spider skimmer, transfer to the rack to cool while you fry the rest of the buns. Set aside until cool to the touch.
4. Use a serrated knife to split each bun in half. Place half of the halves into individual shallow bowls or on a large platter. Top each with a generous scoop of ice cream, followed by the remaining bun halves, pressing down lightly to make sandwiches. Garnish with peanuts, cilantro, sesame seeds, flaky salt, and sweetened condensed milk, then serve immediately, with spoons.