Passive components (\$Z\$ stuff) don't have a rotation that varies with time. So that's the issue you are struggling over, I guess.
Let's look at a power source. There are four parts:
$$\begin{align*}
V &=\underbrace{\large{e^{^a}}}_{\text{magnitude}}\quad\underbrace{\large{e^{^{\,\sigma\, t}}}}_{\substack{\text{magnitude}\\\text{spiraling}\\\text{with time}}}\quad\underbrace{\large{e^{^{j\,\theta}}}}_{\text{phase}}\quad\underbrace{\large{e^{^{j\,\omega\, t}}}}_{\substack{\text{phase}\\\text{rotating}\\\text{with time}}}\\
\end{align*}$$
First factor: Using your notation and comparing it with the above, just recognize that \$A=e^{^a}\$. The first factor above is just another way of writing the magnitude, but where \$a=\ln\left(A\right)\$.
Second factor: This is the part of the magnitude that changes with time. I'm sure you've seen \$s=\sigma+j\omega\$ enough times, already. Especially where it is assumed \$\sigma=0\$ (or, perhaps \$\sigma\lt 0\$ to keep things on the left-hand side of the complex plane.) All multiplication of complex numbers (without time, for now) involves two things: scaling and rotation. (All multiplication with real numbers is just scaling, without rotation.) The second factor here usually isn't used. I'm just including it out of being pedantic. If, for some reason, \$\sigma\ne 0\$ then there will be some scaling either inward (negative value) or outward (positive value) without limit as time progresses. It's not normally considered in analysis. So ignore this factor, for now.
Third factor: This is the phase angle. Note that it isn't a function of time.
Fourth factor: This is the part of the phase angle that rotates as a function of time.
In the usual case, we can write:
$$\begin{align*}
V &= A\:\large{e^{^{j\left(\omega\,t+\theta\right)}}}
\\\\
&=\underbrace{\large{e^{^{\ln A}}}}_{\text{magnitude}}\quad\underbrace{\large{1}}_{\substack{\text{magnitude}\\\text{doesn't change}\\\text{with time}}}\quad\underbrace{\large{e^{^{j\theta}}}}_{\text{phase}}\quad\underbrace{\large{e^{^{j\omega t}}}}_{\substack{\text{phase}\\\text{rotating}\\\text{with time}}}\\
\end{align*}$$
But in the case of an impedance, it's more like this:
$$\begin{align*}
Z &= X\:\large{e^{^{j\,\phi}}}
\\\\
&=\underbrace{\large{e^{^{\ln X}}}}_{\text{magnitude}}\quad\underbrace{\large{1}}_{\substack{\text{magnitude}\\\text{doesn't change}\\\text{with time}}}\quad\underbrace{\large{e^{^{j\phi}}}}_{\text{phase}}\quad\underbrace{\large{1}}_{\substack{\text{phase doesn't}\\\text{rotate}\\\text{with time}}}\\
\end{align*}$$
There nothing about \$Z\$ where its phasor (phase) rotates with time.
This polar notation I'm showing above for \$Z\$ is unusual as it is normally couched instead in cartesian form with \$R\$ (on the x-axis) and (for example) \$X_L=2\pi\,f\,L\$ (on the y-axis) specified, instead. You can then work out the polar form from that, if you want. But it's not commonly done that way.
So, bottom line? You never get the case you discuss when multiplying \$I\$, which does carry a phase that rotates with time, by \$Z\$, which does not. So there's no frequency-doubling going on with a linear \$Z\$.
Make sense?
(You may very well see a frequency-doubling in the case of instantaneous real power in a resistor, as power is the product of voltage and current and each of those does have its own time-rotating phase.)
Footnote
You can also re-organize \$V\$ in these two added ways:
$$\begin{align*}
V &=\underbrace{\large{e^{^{\left(\sigma+j\,\omega\right)t}}}}_{\text{time-varying}\\\text{ scaling and}\\\:\:\text{rotation}}\quad\underbrace{\large{e^{^{a+j\,\theta}}}}_{\text{time-invariant}\\\:\:\text{ scaling and}\\\quad\text{rotation}}
\\\\\text{or},\\\\
V &=\underbrace{\large{e^{^{\sigma\,t+a}}}}_{\text{scaling as a}\\\text{function of t}}\quad\underbrace{\large{e^{^{j\left(\omega\,t+\theta\right)}}}}_{\text{rotation as a}\\\text{function of t}}
\end{align*}$$
Steinmetz, in his presentation in Chicago in 1893, carefully pointed out that one can simply drop the part of the voltage or current where its phase rotates with time, the \$e^{j\omega t}\$ part, in order to simplify things in cases where there isn't a need for the instantaneous values. (Just measuring RMS, instead, he said.) This is the beginning of the idea for using phasors (where that part is dropped for AC power sources.)
As an interesting footnote, the 1893 Chicago presentation that preceeds Steinmetz's, came from MacFarlane. MacFarlane chose to use:
$$a^\theta=\cos\,\theta +a^{^\frac{\pi}2}\cdot \sin\,\theta $$
where \$a\$ designates an axis (vertical) to some plane created by two vectors, \$\theta\$ a rotation about the axis, and \$a^{^\frac{\pi}2}\$ then represents the obvious \$90^\circ\$ rotation.
MacFarlane called \$a^\theta\$ a general rotator and \$a^{^\frac{\pi}2}\$ a rectangular rotator.
He preferred this kind of writing rather than using complex numbers for reasons which I suspect are more personal. (I've read his reasons but he fails to provide any workable examples to make his point more concrete.) I'm only noting it here for historical reasons and to point out that while many agreed with the geometric aspects they were also at the time were still struggling over notation conventions. (And I can readily say that I'm glad that complex notation won out.)