Add the cold water, lime wedges, and sugar to a blender. Blend for about 20–30 seconds until the limes are fully broken down.
Place a fine-mesh strainer over a large bowl and pour the blended mixture through it. Discard the pulp and lime solids.
Rinse the blender, then pour the strained liquid back in. Add the sweetened condensed milk.
Blend again until smooth, creamy, and lightly frothy.
Fill glasses with ice and pour the limeade over the top. Garnish with fresh lime slices if desired. Serve immediately.
Notes
This refreshing Brazilian-style lemonade—often called Brazilian limeade—is ultra-creamy, sweet, and tangy. Made with whole limes and condensed milk, it’s a quick summer drink that’s perfect for parties, barbecues, or cooling off on a hot day.