In a pressure cooker, add the milk, rice and sugar and and mix everything well together.
Close the lid without the weight on medium-high heat.
When it steams, put the steam weight on and cook for one whistle and after 1st whistle lower the flame and cook for another 30 minutes. Switch off the heat and leave it on the stove until all pressure settles.
(Optional) Allow to sit for at least 1 hours before opening and transferring the payasam to serving dish. The more you keep the more tasty payasam you will get.
Serve warm or chilled and Enjoy!