Step 1

This recipe makes a thick, spreadable mixture. Use it to fill alfajores or cakes or to spread on toast. You'll need a rack that fits inside your multicooker model.

Step 2

Set rack into 6- or 8-quart multicooker and add 8 cups water. Pour condensed milk into 8-inch-diameter stainless-steel bowl. Cover tightly with foil; set on rack. Lock lid into place and close pressure-release valve. Select high pressure-cook function and cook for 1 hour. Turn off multicooker and quick-release pressure. Carefully remove lid, allowing steam to escape away from you.

Step 3

Carefully transfer cooked condensed milk (it will look broken and grainy) to fine-mesh strainer set over bowl. Stir and press solids with back of small ladle or spoon. Stir in vanilla and salt. Transfer to airtight container. (Jam can be refrigerated for up to 2 weeks.)