5 Tbsp. vegetable oil
2 1/2 cups popcorn, unpopped
1/4 cup butter
1 cup packed light brown sugar
1/2 cup light corn syrup
2/3 cup sweetened condensed milk
1/2 tsp. vanilla extract
Add 1 Tbsp. of oik to a 4 qt. saucepan and heat over high heat. When oil is hot, add 1/2 cup of popping corn. Keep pan moving constantly. When corn stops popping, remove from heat. Place popped corn in oven to keep warm. Repeat until all corn has been popped. Set aside.
In a medium saucepan with a candy thermometer insterted, combine sugar and corn syrup. Stir well and bring to boiling over medium heat. Stir in condensed milk; simmer, stirring constantly, unitl thermometer reads 238Â°F. Stir in vanilla
Pour caramel over popped corn and stir to coat. Butter hands lightly; shape popcorn into balls about 3 1/2 inches in diameter.