Also known as Flan, the Brazilian variant is made with condensed milk and topped with caramel sugar.
Add to a bowl or a blender the condensed milk, the three eggs and use the condensed milk can to measure the amount of whole milk. The mix the ingredients until uniform.
Add 1 cup of sugar to a pan, and heat it until it melts. Once it browns a bit and is melted, add the water, and keep mixing. Once it’s melted again and is thickening, it’s done.
Add the liquid caramel to the cake mold, and wait for it to harden. Once it’s not liquid enough, pour the flan mix. Bake in the oven at around 180C for 30~45 minutes. You might need to put the mold inside a bigger container filled with water for better results.
You know it’s ready by poking it with a fork. Should still be soft, but the fork should be mostly clean.
Let it cool, and you can un-mold it into a plate for serving. If the caramel is solidified, you might dip it into warm water to melt it a bit.