CARAMEL - PEANUT BUTTER FROSTING 
1 can condensed milk
Chocolate sheet cake
1/2 c. peanut butter

Bake sheet cake according to directions. After cake has been removed from oven, pour sweetened condensed milk into a small heavy saucepan. Cook over medium-low heat; this must be stirred constantly. When frosting begins to bubble and thicken remove from heat immediately. Stir in peanut butter and pour over warm sheet cake.

recipe reviews
Caramel - Peanut Butter Frosting
   #107447
 Tina Olson (Washington) says:
My family has made this frosting for decades. So fast, easy and yummy. Even better on day 2 as it moistens the cake.

 

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