This creamy caramel frosting comes together really easily and starts with a can of sweetened condensed milk to make it extra special. It is a great way to make a caramel frosting for your favorite cakes!
In a saucepan, bring the sweetened condensed milk, brown sugar and butter to a boil over medium heat. Stir constantly and allow to boil for 3-5 minutes. The frosting should be like a thick pudding.
Cool caramel mixture to room temperature. This may take a while, but you can put it in the refrigerator to speed the process if you want to. When cooled, it should be thick enough to almost hold it's shape. See the picture in the post for reference.
Whip cream cheese and vanilla until smooth. Add cooled caramel mixture and beat for at least a couple of minutes.