Step 1

Preheat the oven to 425 degrees F.

Step 2

Place the sweetened condensed milk in a pie plate or similar baking dish, and cover it tightly with foil.

Step 3

Place the covered dish in a larger pan, and pour hot water into the larger pan until it comes about 1 inch up the sides.

Step 4

Bake in the oven for about 2 hours, or until the desired color and thickness* are achieved.

Step 5

Whisk the dulce de leche to smooth out any lumps.