I often don't realize I am out of sweetened condensed milk until I am getting ready to make a recipe. Then I cannot make the recipe and by the time I have it, the inclination to make what I was going to make has passed. However a short while ago I found this super easy recipe to make it myself and I love it. It turned out great and I have used it in a few recipes so far with no issues. Here is the link to the recipe I used http://dessertnowdinnerlater.blogspot.com/2012/03/sweetened-condensed-milk.html
1 cup sugar
1 cup dry powdered milk
1/2 cup water
1 Tbsp butter
1. Put sugar and powdered milk in a blender (I already had my food processor out so used it instead)
2. Put water and butter into a microwaveable dish and let it come to a boil in your microwave; about 45-60 seconds.
3. Add water/butter mixture to blender or food processor and mix until combined.
Makes about 1 1/2 cups
Add the powdered milk and sugar to food processor
Process until you have a fine powder. Then add the water/butter mixture, process until combined, pour into storage container of choice, and store in fridge. Enjoy!