Prep: 1. Line an 8- or 9-inch square baking pan with foil. Make: 1. Combine morsels and sweetened condensed milk in saucepan. Warm over lowest possible heat, stirring until smooth (careful not to burn!). 2. Remove from heat; stir in vanilla extract. 3. Spread evenly into prepared baking pan. 4. Refrigerate for 2 hours or until firm. 5. Lift from pan; remove foil. Cut into 48 pieces.