1Preheat oven to 350 degrees F (175 degrees C). Mix together the flour and baking powder; set aside.
2In a large bowl, beat the butter until creamy. Blend in the egg yolks, one at a time. Beat in the flour mixture alternately with the milk. The dough will be stiff like a cookie dough. Divide the dough into 10 pieces and shape into balls. Roll each ball into a 9 inch circle. Place on cookie sheets and prick with a fork in several places.
3Bake in the preheated oven for 10 to 12 minutes, or until golden brown. Set aside.
4Make the Caramel Filling: In a sauce pan, boil the unopened cans of sweetened condensed milk for 3 hours. Monitor the water closely, to make sure there is always water in the pan. Remove can from heat and let cool for 10 to 15 minutes. In a small measuring cup, combine the brandy and water.
5Place one cookie layer on serving plate. Sprinkle with brandy mixture, then spread with the now thickened condensed milk. Sprinkle with nuts. Continue stacking until all layers are used.