**** DO NOT open until cooled to room temperature no matter which method you choose or you risk it exploding.
Slow Cooker Dulce de Leche - To prepare the caramel: Remove the labels from the sweetened condensed milk cans and wash the cans. Place a sheet of parchment paper in your slow cooker to avoid rust rings.
Position the cans on the parchment paper and fill the slow cooker with water until the cans are covered by about two inches of water. Set the slow cooker to the low heat setting and cook for eight hours.
After the cooking time, turn off the slow cooker and let the cans sit inside for four hours. Once the cans are cool enough to handle without burning yourself, open the cans. Opening the cans before cooling could cause the caramel to splatter. Proceed with caution as the contents are pressurized. Spoon into a bowl and enjoy.
Dulce de Leche on theStove - Pour the contents of a can of sweetened condensed milk into a saucepan. Place the saucepan over medium-low heat.Stir the condensed milk continuously to prevent it from sticking to the bottom of the pan and burning. It can take anywhere from 1 to 2 hours of gentle simmering for the condensed milk to transform into thick and caramelized dulce de leche. The longer you simmer it, the thicker and darker it will become.
Instant Pot Dulce de Leche - Wrap 1-2 open cans twice with foil very tightly. Place the wrapped can(s) into the electric pressure cooker resting in the middle of a trivet. Fill the electric pressure cooker with enough water to come halfway up the sides of the can. Close lid and steam valve. Pressure cook on high for 40 minutes. Quickly release the steam when done. Lift out, unwrap carefully, stir and enjoy. As it cools it will continue to thicken.