Mix 1 envelope of about 2 1/2 tsp of gelatin in a bowl with 1/4 cup of water. Set aside to let the gelatin bloom while you begin the glaze. NOTE: The amount of gelatin differs from the video shared on YouTube in 2016. I have revamped the recipe to reduce the volume, and the scaled-down version uses 1 envelope or 2 1/2 tsp of gelatin. It makes enough to glaze 2, 8-inch layer cakes. Pour 1 1/2 cups of granulated sugar, 3/4 cup of water, and 2/3 cup of sweetened condensed milk into a heatproof bowl.
Heat for 90 seconds on high power in the microwave. Remove the mixture from the microwave and give it a good stir. The sugar should be mostly if not fully dissolved at this point. If it isn't, heat the mixture in additional 10-second intervals until it is.
Add in the bloomed gelatin and whisk until the gelatin is fully dissolved.
Melt 2 cups of mini white chocolate chips in the microwave by heating them in 15-second intervals, stirring between intervals. Once the white chocolate is fully melted, pour the white chocolate into the warm gelatin mixture.
Carefully whisk the mixture until fully combined. Pour through a sieve to remove any bits of unmelted chocolate or stubborn bits of gelatin.
Divide the glaze evenly between four bowls. Color them in different shades using gel food coloring. To create this galaxy mirror glaze, color them blue, purple, black, and pink.
Continue to stir occasionally (to prevent a skin from forming) until the glaze has reached 90°F/32°C, or is just slightly warm to the touch.
Pour each color of glaze back into one large bowl, alternating colors and drizzling the colors together as you pour them.
Place a chilled buttercream cake (in the freezer for at least 10 minutes or the fridge for 1 hour) on top of a circular object smaller than the cake board, and set this on top of the large rimmed baking sheet to catch the run-off glaze.
Begin pouring the glaze over the center of the cake, then slowly work your way out to the edge of the cake in a circular motion until the cake is fully covered.
Let the glaze drip for about 10 minutes, then scrape away any excess glaze from the bottom of the cake board using a small offset spatula or butter knife.