In a heavy bottom pan, melt butter over low heat.
Once butter is melted, add brown sugar and a dash of salt. Stir thoroughly.
Next, add corn syrup and continue to stir.
Slowly add condensed milk, stirring constantly.
Cook over low heat and continue stirring constantly.
Once the caramel starts to boil, continue cooking until the caramel reaches 230° and then start to test for "soft ball stage." This takes approximately 16-18 minutes to get to this point, all the while stirring constantly over low heat.
If you are unsure what "soft ball stage" means, get a small bowl of cold water and once the temperature reaches 220° drop a little caramel into the cold water and see if it feels soft, but somewhat firm between your fingers. This might need to be done a few times to get to the right temperature for the caramel. If it is too soft and doesn't form somewhat of a ball, continue cooking a little bit longer, stirring constantly. Keep testing for the firmness with the "soft ball stage" method. Once the caramel reaches the desired texture and temperature, remove from heat. Make sure the caramel's temperature does not reach beyond 240° because then your caramel will be too hard. And most importantly, cook over low heat.
Once removed from heat, add vanilla and stir.
Pour caramel into a 9 x 13 glass baking dish lined with parchment paper or generously buttered.
Once cooled, remove the caramel from the baking dish and place the caramel on the counter with the parchment paper underneath. Cut into 1-inch square pieces and then use a small heart cookie cutter and cut into heart shapes. *Make sure to butter the inside of the cookie cutter often so the caramel doesn’t stick. Place hearts on a parchment lined baking sheet.
Heat the white chocolate candy coating according to package directions.
Dip the caramels into the melted white chocolate or drizzle the melted white chocolate over the caramels and top with Valentine sprinkles.
This is a bit time consuming but the end results are totally worth every minute.