Here is a recipe for sweetened Condensed Milk, something I never seem to have on hand when I need it.
1 c powdered milk
1/3 c boiling water
2/3 c sugar
2 or 3 Tbsp margarine or butter
Whirl all ingredients in blender until sugar is dissolved. If too thick, thin with a dribble of water. This is about the same amount as one can of purchased milk.
**note: I've not tried this recipe yet. I wanted to get it stored here so I could pull it up quickly next week when needed. If you have tried this or a similiar recipe, please let me know the outcome.