1. Prepare an ice-water bath. Heat sugar, water, and a pinch of salt in a medium saucepan over medium-high heat, stirring until sugar dissolves.

2. Cook, without stirring, until mixture is amber. (Do not let caramel burn.) Carefully pour in 1 cup cream in a slow, steady stream down the side of the saucepan, whisking constantly, until smooth (caramel will bubble).

3. Remove from heat, and place saucepan in ice-water bath. Let caramel mixture cool, stirring occasionally, until cold, about 20 minutes.

4. Whisk remaining 1 1/2 cups cream in a large bowl until soft peaks form. Gently fold caramel mixture into whipped cream, and whisk until stiff peaks form. Use immediately.