In a deep skillet, combine the dry ingredients and 1/2 a cup of milk. Whisk together to combine.
Turn the heat on under the pan to medium and whisk in the remaining 2 cups of milk. Stir the chocolate mixture constantly until it thickens and begins to bubble.
Add vanilla extract, stir to combine and remove gravy from heat.
Serve over your favorite biscuits with butter.
Leftover gravy? Pour into individual pudding cups and refrigerate for a sweet chocolate pudding later!