1 (13 oz.) can evaporated milk
2 c. sugar
1 (6 oz.) pkg. chocolate morsels
1 tsp. vanilla

Combine milk, sugar, and chocolate morsels in a heavy saucepan. Boil for about 3 minutes, stirring constantly. Remove from heat and cool slightly. Stir in vanilla. Beat for about 1 minute. Refrigerate.

Makes 2 cups.