Top-ranked recipe named "Caramel Condensed Milk Spread"
Steam and slow cook are used in the keywords because they are the closest thing I could relate to a double boiler. I called the company directly to get their recommendation on how I could make this caramel. You see, my grandmother had her own way of boiling the condensed milk....not safe, how times have changed! I was told by Eagle Brand to only use the recommended methods given.
DOUBLE BOILER: (BEST METHOD) Open the can of condensed milk and place in top of double boiler. In botton of boiler, add water. Simmer covered over low heat for 1 to 1/2 hours...stirring frequently
MICROWAVE: Open the can of condensed milk and place in a 2 qt measure. Cook ~~at; 50% power = med heat, for 4 minutes, stirring briskly every 2 minutes, til smooth. Cook at 30% power for 12 to 18 minutes or until very thick and caramel color, stirring briskly every 2 minutes til smooth.
OVEN: Open can of condensed milk and place into a 9" pie place. Cover with foil, place plate in larger shallow pan. Fill larger pan with hot water and bake ~~at; 425 for 1 1/2 hours or til thick and caramel color. Beat til smooth.
SERVE ON CRACKERS, BREAD.....USE YOUR IMAGINATION.....VERY GOOD.