In a saucepan heat milk, cream and half of the sugar over low heat until sugar is dissolved, whisk often.
In a separate bowl beat egg yolks and remaining sugar until they are fluffy and a creamy yellow color. Add a 1/4 cup of the heated milk mixture to the eggs and stir to combine, add another 1/4 cup and combine, and then add the egg mixture to the milk mixture in the saucepan very slowly and stirring constantly while doing (you do this to temper the eggs so they don't turn into scrambled eggs). Over medium heat cook and stir constantly until the mixture thickens and coats the back of a wooden spoon (about 12 minutes). Add vanilla extract and incorporate. Pour the mixture through a fine mesh sieve into a heat safe bowl and allow to cool in the refrigerator.
When cool (after about an hour) fold in the cherries and chocolate. Turn on your ice cream maker and follow instructions, when it is done, fold in the fudge to create fudge swirls. Freeze until you are ready to serve and enjoy!