Preheat your oven to 350 degrees. Spread the flour on a rimmed baking sheet and bake for 5 minutes.
While the flour is baking, in the bowl of a large stand mixer, cream the butter and the brown sugar until light and fluffy, about 3 to 6 minutes. Beat in the vanilla.
Slowly add the toasted flour, scraping down the sides as necessary.
With the mixer still running, slowly add in the sweetened condensed milk. You may need to stop the mixer periodically to scrape down the sides.
Once it is fully combined, stir in the chocolate chips.
Enjoy immediately or store in the refrigerator for 4 to 5 days.