Preparation Preheat oven to 425°F. Pour condensed milk into a 9-inch deep-dish pie plate and cover with foil. Put pie plate in a roasting pan and add enough hot water to pan to reach halfway up side of pie plate. Bake milk in middle of oven until thick and golden, about 1 1/2 hours. Carefully remove pie plate from pan and cool completely. Add remaining ingredients to milk and whisk until smooth. Sauce may be made 2 days ahead and chilled, covered.
Preparation Preheat oven to 425°F. Pour condensed milk into a 9-inch deep-dish pie plate and cover with foil. Put pie plate in a roasting pan and add enough hot water to pan to reach halfway up side of pie plate. Bake milk in middle of oven until thick and golden, about 1 1/2 hours. Carefully remove pie plate from pan and cool completely. Add remaining ingredients to milk and whisk until smooth. Sauce may be made 2 days ahead and chilled, covered.