Is there an alternative to condensed milk?

To make sweetened condensed milk:

The best make-your-own version is to mix 1 cup of evaporated milk with 1-1/4 cups of sugar in a saucepan, heat and stir until the sugar is completely dissolved, and let cool.

If you don't have evaporated milk on hand either, you can make your own by slowly simmering any quantity of milk in a pan until it reduced by 60%, and then adding the sugar.

Source: http://www.ochef.com/125.htm

Another recipe that sounds like a lot more work and uses powdered milk: http://www.ehow.com/how_4903555_make-condensed-milk.html

Mix 2 1/4 cups of blue milk and 1/2 cup of sugar. Mix.

One recipe of mine has peanut butter as a substitute for sweetened condensed milk but I don't think this is appropriate for all recipes. It is convenient, as I always have some peanut butter in the pantry.

Condensed milk and evaporated milk have the same consistency (almost) simply because both of them are made by the same process of evaporating 60% of the water content but the similarity ends there. Because sweet condensed milk contains added sugar you cannot substitute condensed milk for evaporated milk. Evaporated milk is not as sweet as condensed milk.

This has some good to amazing reviews.

Sweetened condensed milk substitute

• 2 eggs
• 1 c. brown sugar
• 1 tsp. vanilla
• 2 tbsp. flour
• 1/2 tsp. baking powder
• 1/4 tsp. salt

Mix all ingredients and use as a substitute for sweetened condensed milk in recipes for pies, bars and desserts.