Remove label from Sweetened Condensed milk can. Place UN-OPENED can into sauce pan and fill with water, covering can. Bring to boil and let boil for 4 hours, refilling with HOT water, covering can again. Cooking the sweetened condensed milk will turn it to caramel. Remove from pan and let sit for a few minutes and then open can. Don't worry, it wont burst.
Stir contents of can thoroughly. Take graham crackers and break them in half. Spread caramel onto each cracker and stack together like cake layers. Save enough of the caramel to spread around 3 sides. Place the stack on it's side to do so. Then cut at an angle to serve. Place a spoonful of whip cream on each serving,..and enjoy!!