In Latin America, flan is made by simmering milk and sugar until reduced to a thick cream, then adding eggs. Since the cooking of the milk and sugar takes as long as an hour, many prefer to make this with sweetened condensed milk.

Preheat the oven to 325°F. Have ready six 6-ounce custard cups or ramekins or a 9-inch round baking dish.

Prepare the caramelized sugar as directed in Caramel Custard, using a small heavy saucepan (do not whisk in the half-and-half). When the caramel turns deep amber, pour into the cups or baking dish. Using a potholder, immediately tilt the cups or dish to spread the caramel over the bottom and halfway up the sides.

Combine in a small saucepan and bring to a boil:

Reduce the heat and simmer gently for 5 minutes. Remove from the heat, cover, and let stand until just warm. Strain the mixture through a fine-mesh sieve into a bowl.

Meanwhile, whisk in a large bowl just until blended:

Gradually whisk the warm milk mixture into the egg mixture. Pour or ladle into the caramel-lined cups or dish. Set the cups or dish in a deep pan large enough to accommodate them without touching each other or the sides of the pan. Set the pan on a pulled-out oven rack and add enough scalding-hot tap water to come one-half to two-thirds of the way up the sides of the cups or dish. Bake until firmly set in the center, 40 to 55 minutes for individual cups, 50 to 70 minutes for a single dish. Let cool, store, and unmold as for Flan.