Arroz con Leche (Milk with Rice) - Peru

This recipe, submitted by Merry Henry of Mt. Vernon, would make a yummy dessert.
2 C. water
1 can evaporated milk
2 cans of sweetened condensed milk
1 C. rice
1 tsp. vanilla extract
lemon peel (optional)
1 cinnamon stick
ground cinnamon
Soak rice in cold water for one hour, drain. In heavy saucepan bring rice water and cinnamon stick(s) to a boil. Add optional lemon peel, lower heat and simmer until rice is cooked. When rice is very well cooked remove cinnamon stick(s) and lemon peel, add vanilla extract, evaporated milk and sweetened condensed milk. Cook, stirring constantly until it reaches desired consistency. Place in individual serving cups and chill for about 1 1/2 hours. Garnish with ground cinnamon and cinnamon stick before serving. Serves 4-6.