Dump the milk and chocolate chips into a microwave safe glass bowl. Microwave 1 minute and 30 seconds. Remove and stir until smooth. Add vanilla extract and nuts. Mix well and pour into a sprayed 9 x 9 dish. Refrigerate 1 to 2 hours. Cut into squares. Makes about 24 pieces depending on size you cut your squares
I have tried this with fat free condensed milk and it does not get as hard as the whole condensed milk but could not tell much difference in the taste.