There's more than one way to skin a cat (do you really want to skin a cat?) And there's more than one way to make this rich, creamy, confection that's used in all kinds of desserts. One of the easiest ways I've heard of comes from Chef John at Food Wishes. It requires three things:
- 1 can sweeten condensed milk
- 1 pot of water
- 1 finishing nail (yes a nail)
Drive the nail in the top of the can (not a rusty one!) You only need one hole. Place the can in the pot and fill as full as possible with water without going too close to the top of the can. Boil the water. As it boils, you'll see it overflow out of the nail and begin to change color. Once the color gets to a light caramel, remove the can, allow to cool, then open and stir.
METHOD #2:
The next method is very easy as well. Using a glass baking dish (I use a pie dish) pour the sweetened condensed milk into the dish. Then place foil underneath and on top of the pie dish and wrap it up securely so it won't leak.
Place the pie dish into a large roasting pan or baking pan, and fill with 1-2" of water but not up to where the foil is sealed. Bake in the oven at 325 for 1 hour, checking on the water level every 20 minutes. You can then remove and see if its dark enough. If not, place it back in, sealed up again, for another 30 minutes. Check as needed and refill with water as needed until the darkness level is achieved.
Remove and let cool before storing in nice glass jars.