Oat Horchata

Place oats in a high-speed blender; cover and blend until pulverized to a fine powder. Add milk, 1 cup water, the sugar, sweetened condensed milk, vanilla, cinnamon and salt to the oats in blender. Cover and blend until frothy, about 30 seconds. Strain mixture into a pitcher and discard solids. Cover and chill until cold, about 1 hour. Stir horchata well and pour into ice-filled glasses. Dust with additional cinnamon and/or serve with a stick of cinnamon.