1 (14 oz.) pkg. caramels
1/4 c. butter
1/2 can sweetened condensed milk
1/2 c. butter
1 1/2 pkgs. miniature marshmallows
8 c. Rice Krispies

Melt caramels, butter and sweetened condensed milk together, set aside. Melt 1/2 cup butter and 1 1/2 packages miniature marshmallows. Stir in 8 cups Rice Krispies. Press 2/3 of mixture in greased 10 x 15 inch jelly roll pan. Sprinkle 1/2 package of marshmallows over cereal in pan. Pour warm caramel mixture over marshmallows. Using wet or lightly greased fingers, spread remaining cereal mixture on top. Keep tightly covered with tin foil.