I wanted to make the Hello Dolly bars in my blog and realized I had no sweetened condensed milk. So, I figured I'd make my own!
2 Cups Skim Milk
1 1/4 Cups of sugar
1/2 teaspoon of Vanilla
Place the milk in a saucepot and reduce by 2/3. The milk will be slightly thicker and have a light tan appearance. Add the sugar and simmer until the mixture is thick and coats the back of a spoon. About 20 minutes. Remove from heat and stir in the vanilla.
This was way better than any canned sweetened condensed milk! It was almost like dulce de leche...just not as caramelized and thick.