In a heavy saucepan combine sweetened condensed milk, white chocolate chips and 1 teaspoon butter. Melt over low heat, stirring constantly.
Continue to heat over low-medium heat until thick and glossy. Be patient, chocolate needs to be heated gradually. If you increase the heat to speed things up you can end up with lumpy, burnt chocolate. Heating process will take approximately 15-20 minutes. Chocolate will be thick and start to easily peel away from the sides of your saucepan.
Coat a glass baking dish or pie plate with cooking spray. Spread the hot chocolate mixture into the bottom and allow to cool to room temperture.
Combine chopped pecans, cinnamon and nutmeg in small bowl, mix.
Using your hands, form into 1 1/2 inch balls and immediately roll in pecan mixture. You might have to pack it down a little to make sure it sticks.
Truffles can be stored in the refrigerator, but will get pretty hard, so give them time to come up to room temperture before serving.
If you've tried this recipe, come back and let us know how you liked it!