Combine milk, sugar, and lemon thyme in a saucepan. Bring the milk to a simmer over medium heat, whisking occasionally, until the sugar dissolves. Remove the pan from the heat, cover it and allow the milk to steep for at least 30 minutes.
Return the milk to the stove and once again bring it to a simmer over medium heat. Meanwhile, in a large bowl beat the eggs. Once the milk reaches a simmer, temper the eggs by gradually whisking 1/2 cup of the hot milk into the yolks. Repeat, until half the milk has been added to the yolks. Whisk in the remaining milk then quickly pour the ice cream base through a fine strainer into a bowl set over ice.
Chill the ice cream base thoroughly; then add the pink peppercorns. Process the ice cream in an ice cream maker according to the manufacturer's instructions. When the ice cream is thick, but not yet fully frozen, fold in the creme fraiche, then continue to process the ice cream. Spoon the ice cream into containers and freeze until ready to serve.