Heat the milk with the sugar and bring to a boil. Set aside to cool. Place in a refrigerator to chill. Add the soaked subza to the milk, stir and chill it in the refrigerator.
Pour half a tablespoon of rose syrup into four wide-mouthed falooda glasses. Pour the milk into each glass, top with two to three tablespoons of falooda, a scoop of vanilla ice cream and a sprinkling of chopped cashew nuts. Serve at once.