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Place mixture in a bowl into the microwave and cook for 2 minutes. Stir well. Set timer to cook for 4 minutes, but stop it every 1 minute and 30 seconds to stir the mixture. It will bubble up and rise up in the bowl, so stir it until it calms down.
No need to pull out the bowl out of the microwave, just hold it with one hand (in a kitchen mitten since the bowl will be hot!) so it won’t be turning around and stir the mixture with a wooden spoon until the bubbling stops and the mixture falls a little bit. Be careful while handling the mixture. The bowl and the caramel will be very hot!
To wrap caramels in wax paper: This recipe makes 100 pieces if you cut the cooled caramel into 1″ x 1/2″ pieces. Cut wax paper into 4″ x 3″ pieces and wrap each piece of caramel, rolling it into a 2″ x 1/4″ candy.