To create vegan caramel, place the container of condensed milk in a saucepan and cover with water, 1-2 inches above the can. On medium heat, bring to a boil, immediately reducing the heat to low and cover. Simmer for 2 hours, adding water as needed.
Remove from stovetop and let cool completely. Once cooled, the milk will have caramelized. Open the can and pour the caramel in a medium-sized bowl.
Add the desiccated coconut, vanilla extract, and cardamom powder. Stir well to combine.
Use 2 to 3 tablespoons batter to make round, evenly-shaped ladoos.
Roll them gently in more desiccated coconut to cover.
Garnish with pistachios or almonds and rose petals.
Serves 15 ladoos