04 Mar 2008 Did you know it's very easy to make caramel sauce?  All you need is a can of sweetened condensed milk! Eagle Brand's site mentions these methods... 1 14-ounce can sweetened condensed milk (NOT EVAPORATED MILK) OVEN METHOD: Pour 1 14-ounce can sweetened condensed milk into 9" pie plate. Cover with aluminum foil; place in larger shallow pan. Fill larger pan with hot water. Bake at 425°F for 1 hour or until thick and caramel-colored. Beat until smooth. STOVETOP METHOD: Pour 1 14-ounce can sweetened condensed milk into top of double boiler; place over boiling water. Over ... {Tags: , } {More...}