Dulce de Leche
from Pikelet and Pie
10 oz. can(s) condensed milk
1. Peel off labels on condensed milk cans.
2. Get a large pot, place cans in, and fill up to the top of the pot. If the cans aren't covered completely with an extra inch (or two) of water above, then you need a bigger pan.
3. Bring water to a low simmer, and simmer for 2.5 hours. MAKE SURE to keep the cans covered with water at all times. Check every 15 mins or so, and if it needs it, add some more water to the pot.
4. Let cans COMPLETELY cool to room temperature before opening. I just left my cans in the pot of water over night, and by morning they were completely cooled down (slightly rusted at the edges, but the rust washed right off)