Chill the can of coconut milk in the fridge overnight. If you can the time, a week ahead is best.
To make whipped cream:
Open the can of coconut milk UPSIDE DOWN and pour off the liquid into a separate container.
Put the solid cream into a deep mixing bowl and whip for 2 minutes. Add the sugar and vanilla and whip until peaks form.
If the cream is too thick, add a tablespoon of coconut liquid at a time to loosen it and allow for thick billowy peaks.
Serve immediately or store in the refrigerator covered, for up to a week.