There's a popular Japanese dessert called kakigori that uses sweetened condensed milk. All you do is put some shaved ice in a pretty individual bowl and pour on some of the canned milk. Then, you top it with either fresh fruit or canned fruit cocktail. Fresh and delicious!
I also use sweetened condensed milk as an easy way to dress up a plain cake mix. Like BellaDeb only I add more on the top. Bake the cake. And before it cools, poke holes in the top. Pour on the condensed milk. Sprinkle on crushed Heath candy bars (or other chocolate bars). When it cools, spread on some whipped cream and sprinkle with shaved chocolate or chocolate chips.Refrigerate until serving time.
Use sweetened condensed milk to make Mexican Flan! So creamy!
My mother said that using the Depression Era, they would eat a "pastry" that was a simple concoction of soft white bread spread with sweetened condensed milk. Like a milk sandwich.