Combine ingredients in a large (8 quart) saucepan over high heat. Stir to combine. Bring to a 'medium' boil. *SEE NOTE. Reduce to medium-low heat, cover the pot, and simmer for 20 minutes.
Remove cover, increase temperature to medium-high and stir constantly until rice is tender and pudding is thick and creamy, about 3-5 minutes.
Remove from heat. Pour into serving dishes. Serve warm immediately or chill in the refrigerator until ready to serve.
Notes
Do not bring to a full rolling boil and then cover. It will boil over and you will be left with a nasty stove to clean. Don't ask me how I know, just trust me on this one.