In a small pot over medium heat, combine evaporated milk, heavy cream and whole milk. Bring to a simmer until small amount of steam starts coming up and small bubbles form around the edge of the pot, stirring occasionally.
Remove from heat. Add tea leaves & tea bags (keep the tags outside of the pot). Cover with a lid. Let it steep for 30 minutes.
Remove the tea bags. Place a cheese cloth over a sieve. Strain the tea through the cheese cloth and the sieve into a large glass measuring cup or a medium bowl. Discard the tea leaves. Stir in sugar, condensed milk and light corn syrup. Let the tea cool at room temperature for 30 minutes. Transfer to the fridge and cool for 1 hour.
A thin film maybe form over the milk tea after it cool. Remove that with a spoon. Stir the mixture, then fill the popsicle molds with milk tea by leaving 1/8-inch space on top. If using molds that contain sticks, put on lid, sticks and freeze. If using small cups, freeze until beginning to set, about 45 minutes, then insert wooden sticks and put back in freezer.
Freeze for at least 8 hours. If the popsicles are stuck in the molds, dip the molds in warm water for 10 seconds or so. Remove popsicles and serve. These popsicles melt really fast after being unmolded. If not serving right away, place the popsicles on a large plate or small baking sheet that is covered with a wax paper. Cover the popsicles with another wax paper. Put back in the freezer to refreeze for a couple more hours.