In a pot, add the first 6 ingredients and bring to a low boil. Once it starts boiling, set timer for 30 minutes. Stir frequently. After 30 min, turn off heat. Put lid on pot and let steep for one hour. Run through a fine mesh strainer with a double layer of cheesecloth. Chill for 24 hours.
Mix coconut milk & condensed milk and chill for 24 hours.
To serve, remove Thai tea from refrigerator and add vanilla. Serve over tall glass of ice. Add 2 oz. of milk mixture to the top and enjoy