Pop popcorn according to package directions and make sure you get rid of any unpopped kernels.Place popcorn in a large bowl...larger than you think you will need.
In a large saucepan melt together the butter, brown sugar, and corn syrup. Bring mixture to a boil. Once it comes to a boil, reduce to medium heat and add the can of sweetened condensed milk. With the rubber spatula, stir constantly for 5 minutes scraping the sides and especially the bottom of the pan to
prevent any burning. The longer you cook it the firmer the caramel will be. I like mine a little on the soft side so I like to cook it shy of 5 minutes...around 4 minutes and 30 seconds.
Pour caramel over popcorn and stir until coated. This will take a lot of stirring to get it all incorporated.
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