Begin by air-popping ½ cup of popcorn kernels to yield about 16 cups of fluffy popcorn. If you're short on time, feel free to use two bags of lightly salted microwave popcorn. Remove any un-popped kernels and set aside in a large, heatproof bowl.

In a large saucepan, combine ½ cup of salted butter, 1 cup of brown sugar, 7 oz of sweetened condensed milk, and ½ cup of light corn syrup. Heat the mixture over medium heat, stirring constantly until it begins to simmer. This should take about 5 minutes.

Continue to simmer the caramel mixture for about 2 ½ minutes, stirring all the while. Ensure it bubbles gently and reaches a temperature between 225-235°F (107-112°C).

Once the caramel is bubbling and has reached the right temperature, carefully pour it over the popcorn in your large bowl. Use a spatula or wooden spoon to stir gently but thoroughly, coating every kernel.

Let your Soft Caramel Popcorn cool slightly before diving in; it's best enjoyed warm. Store leftovers in an airtight container at room temperature for up to 5 days.