1 (5 ounce) can evaporated milk, chilled
2 tablespoons cold water
1 teaspoon unflavored gelatin
2 tablespoons granulated sugar
3 tablespoons corn or safflower oil
Pour evaporated milk into a shallow tray, bowl or ice cube trays and place in the freezer until crystals begin to form around the edges.
While the milk is chilling, combine the gelatin and water in a dish, without stirring. Place the dish in a small saucepan or dish containing hot water and let stand until the gelatin dissolves - about 5 minutes. Remove dish from the hot water, stir the gelatin and allow to cool.
Beat the milk in a medium size bowl until stiff peaks form. Gradually add the sugar, oil, and then gelatin mixture. Continue beating until stiff peaks form again. Cover and place in freezer for 10 minutes, then transfer to refrigerator. The mixture will become very stiff.
Before serving, stir to soften. Will keep 3 days covered in refrigerator.