There are a few different ways to get your hands on dulce de leche. You can buy it, you can make it yourself by boiling, or you can make it yourself in an oven. I used to make dulce de leche by boiling but there are two reasons I've stopped- there's a slight risk of blowing up the can and you can't get a sneak peak at how the dulce de leche is coming along. Baking your sweetened condensed milk into dulce de leche is a lot safer if you're like me and in the middle of doing 17 different things, you forget that you're boiling a sealed can. And with baking, you can take your dulce de leche to the precise color and caramelization that suits you.
In a cake or pie pan
1 or 2 cans of sweetened condensed milk
Pinch of salt
On the sidelines
9x13 or roasting pan
Preheat your oven to 425 degrees Fahrenheit.
Pour the sweetened condensed milk into the cake or pie pan. Add a tiny pinch of salt and cover with foil.
Place the pan of milk into the larger roasting or 9x13 pan. Fill the pan with water until it reaches about halfway up the side of the cake or pie pan.
Bake in the oven for about 30 minutes. Carefully remove the large roasting pan from the oven and take a quick look under the foil to see how the caramelization is coming along. Stir and seal back with foil. Fill the larger pan with more water if needed and place back in the oven.
Bake for another 15 minutes or so and then check the color of the dulce de leche. It's likely good at this point but if you prefer it a bit darker, stir and place back in the oven for five minute increments.
Remove and let cool completely.