Pour condensed milk into large bowl. Use whisk to stir in icing sugar until smooth. Stir in vanilla, nutmeg and salt. The glaze should be a thick consistency that slowly drips off whisk in ribbons. (Note: If too thin, mix in more sifted icing sugar. If too thick, stir in spoonful of condensed milk.)
Drizzle over cakes, cookies and quick breads. Allow about 15 min. for glaze to set before serving.
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