1½ cups coconut milk (full-fat)
1 cup chocolate (the darker the better, highest cocoa percentage you can find), in chips or small pieces
1 (14-ounce) can sweetened condensed milk
1 (15-ounce) can cream of coconut
2 cups Puerto Rican rum
2 teaspoons vanilla extract
2 cinnamon sticks
Make the ganache: Combine coconut milk and chocolate in a small saucepan over low heat. Whisk continuously until melted and well combined. Remove from heat and let cool on the counter to room temperature (consistency should be that of a thin sauce; if it hardens, which might happen in cold weather, warm it up just a bit while stirring to loosen it up).
Make the coquito: Combine chocolate ganache mixture, condensed milk and cream of coconut in a blender and process until smooth. Pour into a large pitcher or pot, add the rum and vanilla; whisk vigorously until evenly combined (it should look like thick chocolate milk). Transfer into an empty bottle, add the cinnamon sticks and chill in the refrigerator for at least 2 hours, or until very cold.
Serve straight in small cordial glasses or on the rocks in larger glasses. This recipe can be made a few days in advance and will keep well in the fridge for about 1 week to 10 days. Just be sure to shake the bottle vigorously before serving.