Thoroughly chill a small mixing bowl in the refrigerator.
In another small bowl, soften gelatin with 2 teaspoons of cold water, then add boiling water, stirring, until gelatin is completely dissolved.
Set aside and cool until tepid.
In a chilled mixing bowl, beat ice water and nonfat dry milk at high speed until mixture forms stiff peaks.
Add sugar, still beating, then oil and gelatin.
Cover and freeze for about 15 minutes, then transfer to refrigerator until ready for use.
Stir before using to retain a creamy texture.