Place all ingredients into a blender with a cup to cup-and-a-half ice cubes and blend until whipped and smooth.
Garnish with an orange slice and serve iced cold.
An alternative would be to use vanilla flavored vodka and skip the vanilla extract. However, getting a straight answer on whether the flavored vodka contains carbs is difficult. Absolut vodka claims they use natural berries and their flavored vanilla vodka contains zero carbs. Pinnacle vanilla flavored vodka is reported to have 8g of carbs.