Remove the label from the condensed milk can, place the sealed can in a pressure cooker, cover it with enough water to cover the can at least 1" over the rim. Seal the preassure cooker and "bake" can for at least 1h30min.
~~If you don't have access to a pressure cooker, you can follow the instructions above, but "bake" the can for at least 3hrs. Add a few drops of vinegar to the water before beginning the baking process; this will help you to avoid getting the pots all dark.
When the time is up, take the can out of the water and let it cool in a bowl filled with cold water (maybe 20-30 min). You don't have to let it cool completely, but you want to be sure it's cool enough so that you don't burn yourself. Once it's cool enough, open the can and place the condensed milk into a medium bowl and set aside.
~~The condensed milk should be a caramel color; it tastes pretty much like caramel too -- and the darker the color and more intense flavor it has, the better the dessert becomes.
Now, separate the yolks from the whites. Add the egg yolks to the condensed milk; beat well until it starts forming air bubbles and set aside. Beat the egg whites until they form stiff peaks, and fold carefully into the condensed milk. Place into a glass bowl, or into smaller ones if you like, and cool until it is ready to serve! Enjoy!