Heat the milk and extracts in a small saucepan over medium heat.
Slowly sift in powdered sugar and whisk.
Stir occasionally and heat for a few minutes until very sticky.
Notes
You can make a powdered sugar substitute by taking any dry sugar substitute and running through a food processor until powdery. I had about half of the glaze left, so the calories below are assuming the glaze makes 24 servings.