How do you make whipping cream or cool whip out of evaporated milk?

To make a whipping cream substitute from evaporated milk, chill a can of evaporated milk in the refrigerator or freezer until very cold. Then, pour it into a mixing bowl and use an electric mixer to beat it on high speed until it thickens and forms soft peaks, which may take several minutes. For added sweetness and flavor, you can also mix in powdered sugar and vanilla extract to taste. This mixture can serve as a lighter alternative to traditional whipping cream or Cool Whip.