A pressure cooker can cook sweetened condensed milk, transforming it into caramelized milk, or Dulce de Leche, in less than a third of the time it would take to make the sweet dessert spread traditionally in an open saucepan. A pressure cooker uses steam and pressure, at 15 lbs. per square inch, to increase the heat in the cooker, and expedite the cooking time. Cooking with pressure could allow you to make this tasty treat more often.
Insert a canning rack or a collapsible steamer basket into the bottom of the pressure cooker. The rack raises the can of sweetened condensed milk off the bottom of the pressure cooker.
Fill the pressure cooker with 4 cups of water. Take the paper label from the can of condensed milk. Place the can of milk onto the rack inside the cooker and confirm the water covers the top of the can. Add additional water to cover the lid by at least 1/2-inch.
Lock the lid onto the pressure cooker by rotating it until the handles of the pressure cooker line up. Place the cooker onto a burner turned to high heat.
Bring the cooker to high pressure. This can take between 5 minutes and 20 minutes. The lid and the pressure relief value begins to release a steady stream of steam once the cooker reaches high pressure.
Turn the heat down beneath the pressure cooker once the steam begins to escape. Only lower the heat enough to maintain high pressure and no more.
Cook the sweetened condensed milk under pressure for 20 minutes. Your cooking time begins the moment the pressure cooker establishes a steady stream of steam.
Run cool water from the kitchen faucet over the hot pressure cooker at the end of the 20 minutes to quick-release the cooking pressure. This process can take up to 60 seconds.
Hold the pressure cooker at angle away from your body as you twist the lid of the cooker and release it from the bottom of the cooker to avoid the escaping steam.
Remove the can of condensed milk from the cooker with oven mitts or a kitchen towel. Let the can cool before opening the can of milk that has transformed to caramelized milk.