This was so super easy and very, very tasty. It was a softer texture than I thought it was going to be - which was a good thing!
3 1/4cups butterscotch baking chips
1 (14oz) can sweetened condensed milk (I used the low fat version)
2 teas vanilla
2 cups (lightly crushed) Fiber One Caramel Delight Cereal- make sure you use this one and not Fiber One bran flakes - that would be disgusting. (You could substitute Golden Grahams if you cannot find this kind - I just like it 'cause it's healthier - and yes I do realize I am putting it in fudge!)
Line a 9x13 pan with wax paper. Lightly spray with cooking spray. Dump chips and milk in microwavable bowl. Zap on high for 3mins - pausing to stir every minute. Remove from microwave and add the vanilla. Stir until it is just shinny. You can mix the cereal right in or line the bottom of your 9x13 pan with them as I did (this made a cool crunchy 'topping' later)
Put fudge in fridge for at least 2 hours to set. I used the wax paper to flip the whole thing out onto a cutting board so I could cut into 1 inch squares. Makes 60-70 pieces.