Fill sauce pan with enough water to cover the top of the can of sweetened condensed milk
Put UNOPENED can in pan
Make sure the can is compleltely covered with several inches of water
Boil for 3 hours. Do not cover the pan. Keep adding water as needed to keep the can covered with water.
Take the can out of HOT water. Be careful when opening can. It is HOT caramel sauce. You can wait for it to cool some before opening.
Ready to serve over apple cake, as a fruit dip, in brownies.
Store unused caramel sauce in the refrigerator