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I was going to leave this exact same comment (almost). My Dad's family is from South America, My Mom's family is from Cuba. Boiling a can of sweetened condensed milk is the way to make dulce de leche. In fact, I laugh a little when I see dulce de leche for sale in finished form. I've never known a Spanish speaking person that would buy that - if you're craving it, you buy a can of sweetened milk and boil it.
My favorite way to eat it is between and on top of a 2-layer yellow cake. Try it again, but just boil it in a large stock pot that will hold enough water to boil for a couple hours without uncovering the can.
10 months ago on Crockpot Dulce de Leche