There are actual Milkshake blenders but these are not practical as all you can do is..... well, make milkshakes.

You are much better off with a hand blender. They have a deep measured glass you can make milkshakes, smoothies etc in, and if you want you can also use it to blend soups and such. There is a very nice moulinex one that has attachements for chopping and grinding but it runs about 600+Qr, but very handy. I myself have a small black and decker which cost under 200.

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"Diplomacy is the art of saying 'Nice doggie' until you can find a rock - Will Rogers"