First things first, get your 8x8-inch pan ready. Line it with parchment paper, letting the paper hang over the sides. This makes lifting the set fudge out so much easier!
In your medium saucepan, combine the evaporated milk, granulated sugar, and salt. Place the pan over medium heat.
Bring the mixture to a boil, stirring constantly with a whisk or wooden spoon to prevent it from sticking to the bottom.
Once it reaches a full rolling boil (that's when it continues to boil even while you're stirring), boil for exactly 5 minutes, still stirring frequently. Don't wander off during this crucial step!
Remove the pan from the heat. Immediately add the quartered marshmallows and white chocolate chips to the hot mixture.
Let it sit for about 5 minutes without stirring. This lets the residual heat melt the marshmallows and chocolate.
Now, grab your whisk or spoon and stir until the mixture is completely smooth and glossy. Make sure there are no lumps of chocolate or marshmallow left.
Quickly stir in the fresh key lime zest and key lime juice. Stir just until they are evenly incorporated. The mixture might thicken slightly.
Pour the fudge mixture into your prepared 8x8-inch pan. Use a spatula to spread it evenly into the corners.
Let the fudge cool at room temperature for about 15-20 minutes, then transfer it to the refrigerator for at least 2-3 hours, or until it's completely set.
Once firm, use the parchment paper overhang to lift the fudge out of the pan. Place it on a cutting board and cut into squares. I like to wipe my knife with a hot, damp cloth between cuts for cleaner slices!
Enjoy your sunshiney fudge!