I have this one dessert that calls for sweetened condensed milk, but I haven't found a vegan alternative in the grocery store/health food store yet. I have tried a few different recipes and found this one to be the best yet.
1 can of full-fat coconut milk (about 14 oz)
1/4 cup of agave nectar (other options are maple syrup or honey)
Shake can of coconut milk and pour it into a small saucepan. Heat over medium-high heat until boiling. Watch your pot closely and stir constantly with a whisk to prevent burning.
Reduce the heat to low so that your coconut milk is simmering. Add the sweetener, whisk until it is completely dissolved.
Simmer for 30-40 minutes or until the liquid is reduced by half. Remove from heat and allow to cool to room temperature before using in a recipe.
Can last about a week in a sealed container in the refrigerator.
I found this recipe online at http://detoxinista.com/2012/08/sweetened-condensed-coconut-milk/
I have also seen some recipes double the can of coconut milk and use 1/2 cup of sweetener.
Mine started out white and ended a deep tan color. I ignored the odd color and enjoyed the tasty goodness. nom nom!