Makes 30 cups
30 cups of popped popcorn (about four 2.9-ounce bags of microwave popcorn)
1 pound light brown sugar
1 cup butter
1 cup light corn syrup
1 can (14-ounces) sweetened condensed milk
1 teaspoon vanilla extract
1. Put the popped popcorn in a large mixing bowl.
2. In a large pot, mix together the brown sugar, butter, and corn syrup. Place it over medium-high heat and heat until it is boiling. Then add the sweetened condensed milk and reduce the heat to medium heat (reduce the heat to medium-low if it is cooking too quickly/starting to burn). Stirring constantly, continue cooking the caramel mixture until it reaches softball stage (235 degrees Fahrenheit/caramel forms a soft ball when dropped into cold water).
3. Remove the caramel from the heat and stir in the vanilla. Pour the caramel over the popped popcorn and mix it quickly and gently to coat. Let it cool and enjoy! The caramel corn will keep for several days stored in an airtight container at room temperature.