I tried a method yesterday for making caramel sauce from eagle brand sweetened condensed milk. You just simmer the can for about three hours. I think my simmer might be a lttle lower temp than what was needed. It didn't turn to caramel sauce.
So today, I emptied the can into a canning jar sitting in a pan of water and have slightly boiled it for a couple of hours now. It is turning brown so I know it is turning to caramel sauce. The hubby was wanting some as dip for apple slices.