I got this recipe from my Mom, who got it from one of her sisters years ago. It's one that keeps a long time in the frig (I keep it in a canning jar), and that won't boil over when you reheat it. I use it for ice cream topping, and in place of store-bought fudge topping in frozen dessert recipes. One spoonful cold, right from the jar, also satisfies my chocolate cravings. Enjoy!
1 C. Nestle semi-sweet chocolate chips
1 stick butter
2 C. powdered sugar
12 oz. evaporated milk
1 tsp. vanilla extract
Melt chocolate chips with butter over medium-low heat; whisk in powdered sugar and milk. Bring to a slow boil, then simmer slowly for 8 minutes, stirring constantly, until thick. Remove from heat and stir in vanilla.
NOTE: If you feel adventurous, you could try replacing the chocolate chips with butterscotch or caramel chips, if you like those flavors. I have not personally tried this, but would love to hear back from any of you if you do!