Strawberry Merlot a la Velvet

1/2 cup merlot wine
2 tablespoons high-quality balsamic vinegar
1 teaspoon cornstarch
1 tablespoon water
10 fresh strawberries, hulled and sliced
1/2 teaspoon freshly cracked black pepper
2 tablespoons butter
1 56-ounce carton VELVET Old Fashioned Vanilla Ice Cream*
Coarsely chopped nuts as a garnish, if desired