In a small bowl, combine warm milk, yeast, and powdered sugar. Let it sit for 5 minutes, allowing the yeast to activate.
Pour mixture into a large bowl, then add in vegetable oil, stirring to combine. Add in flour, a cup at a time, mixing between each addition. Using either a standing mixer fitted with a dough hook or your hands, fold the dough until it’s smooth and stretchy, about 5 minutes with the standing mixer or 10-12 minutes by hand. You will know the dough is ready when you can hold it up to a window and, when stretched, light shines through without the dough breaking.
Lightly grease a large bowl with oil, then place the dough into the bowl. Cover it with plastic wrap and allow it to rise in a warm place for between 1 hour and 1 hour 30 minutes.
Preheat an oven to 450°F. Line 2 large baking sheets with parchment paper. Set aside.
Using a large dutch oven or pasta pot, bring 3 inches of water and 1/4 cup baking soda to a strong boil.
Place the dough onto a large work surface. Do not flour the surface.
Cut the dough into 8 equal parts. Roll out each part into a 24″ long rope. I rolled out all 8 parts, then lined them up and cut off any uneven ends, to make uniform.
Make a U-shape with the rope. Holding the ends of the rope, cross them over each other twice and press onto the bottom of the U in order to form the shape of a pretzel.
Place each pretzel, one by one, into the boiling water for 30 seconds. Remove it with a spatula and place it onto the prepared cookie sheet. Repeat with remaining dough.
Bake pretzels for 12 minutes, until a light golden brown.
Mix sugar and cinnamon in a large bowl. Remove pretzels from oven and brush with melted butter, then dip into cinnamon sugar mixture.
for the fudge sauce
Heat sweetened condensed milk in a medium pan over medium heat for 1 minute. Fold in chocolate chips, whisking to combine. Remove from heat once chocolate is fully melted. Place into a serving bowl and dip pretzels in!!