Add the sugar to a medium sized pot over medium heat. There's no need to stir initially. Just patiently allow the sugar to melt.
Once at least half of the sugar has melted, start slowly stirring it. It should take about 5 minutes for the sugar to completely dissolve, becoming entirely transparent or translucent and taking on a light amber/caramel color. Once it reaches this point, very slowly introduce a couple of drops of whipping cream to the pot while continuously stirring. Drip a little more and stir again. Continue this process until all the whipping cream is added. Expect a sizzling and bubbling reaction when the whipping cream is added – completely normal.
After the whipping cream has been completely incorporated, gradually add the condensed milk to the mixture while maintaining a constant stir.
Keep stirring the mixture without a pause. It will start to bubble, foam, and rise a bit. Keep stirring. As you continue, you'll notice the mixture thickening slightly. You'll know it's time to stop when the bubbles have subsided, are bubbling less aggressively, and when you move your spoon through it, a distinct path briefly reveals the bottom of the pan. This is the cue to remove it from the stovetop.
Transfer the pot to a small bowl and place it in your fridge. Cover it after it cools down.
Congratulations! You've just whipped up a quick and easy batch of dulce de leche in just a few minutes! Whether you're using it for a cake, ice cream topping, or simply spooning it straight from the jar, this homemade dulce de leche is definitely a game-changer.