In a large pot, place the water, cinnamon and rice, let it cook over medium low heat. The consistency will be watery since the water will not be completely absorbed.
When the rice is cooked, remove a cup of the cooked rice. Place it in the blender and add 2 cups of milk. Process until you have a smooth consistency.
In same pot, add the remaining amount of milk and evaporated milk. When it’s almost boiling, add the previously pureed rice, condensed milk and vanilla.
Stir continuously to prevent the milk sticking to the pot at the bottom. Cook until it comes to a boil or has thickened slightly.
Serve hot and accompany with your favorite pan dulce.