Condensed Milk Chocolate Frosting

In a small, heavy saucepan over low heat, heat chocolate squares and sweetened condensed milk, stirring frequently, until thickened (about 10 minutes).

Once thickened, remove from heat and add water or alcohol. Stir well and allow to cool if you're using as a frosting. If using as a glaze, pour over cake or dip cupcakes into it while still warm so they can set.