In one bowl, dissolve the red Jello in 2 cups of boiling water. In a separate bowl, dissolve the yellow Jello in 2 cups of boiling water. Whisk each until all of the Jello is dissolved.
Keeping the colors separate, pour the Jello in 2 shallow baking dishes or plastic dishes that you've sprayed with cooking spray. Refrigerate until firm.
Once the Jello is firm, cut the Jello into squares.
Place the colored squares in a 9x13 glass baking dish that you've sprayed with cooking spray.
Be sure the two colors of squares are mixed evenly.
In another bowl, mix the 1 cup of boiling water and 2 envelopes of gelatin.
Immediately start mixing until the gelatin has dissolved.
Add the condensed milk to the gelatin mixture and stir thoroughly.
Pour the milk mixture over the Jello squares and place, covered, in the fridge until firm. (about 2 hours)
Remove from fridge and cut into large squares for serving.
*You can use whatever colors/flavors of Jello you'd like. You can also use 4 different colors if Jello, just be sure to choose 4 small boxes and only put in half the water that the box instructions call for.*The calories shown are based on the Jello being cut into 15 pieces, with 1 serving being 1 portion of Jello. Since different brands of ingredients have different nutritional information, the calories shown are just an estimate. **We are not dietitians and recommend you seek a nutritionist for exact nutritional information.**