In a bowl add the rice, water and cinnamon sticks. Cover with plastic and leave on the counter overnight to soak. This is an important step and can’t be skipped!
Take the soaked rice with the water and cinnamon sticks and place it in a blender. Blend on high until smooth. Add evaporated milk and give it one last blend.
Strain the rice mixture into a large pitcher and set aside.
Add strawberries, condensed milk, vanilla and water into the blender and blend until smooth.
Pour the strawberry mixture into the pitcher and stir. Add ice and sliced strawberries to the pitcher and it is ready to serve!