Here's an old time recipe you will surely love. My mom made this in the 60's so I checked with others. A 90 year old man said his grandmother used to make it!!! So I guess it's older than I thought.
You will need a double boiler and an electric hand mixer for this recipe. If you fashion a double boiler, put the larger pot on top of a smaller one. Fill small pot about 1/2 - 2/3 with water.
This tastes best on a dark chocolate cake.
If you're lucky, you will end up with a light crunch on top of the frosting after it sits. This is the height of 7 minute frosting!
JUST IN: I looked up 'boiled frosting' and it is really called Italian Meringue. But with Italian Meringue you make a sugar syrup which is added to the egg whites. Learn something new every day.

RECIPE:
1 1/2 cups sugar
2 egg whites
1 1/2 teaspoon corn syrup (I used light) - or 1/4 teaspoon cream of tartar
1/3 cup cold water
Dash of salt
1 teaspoon vanilla

Fill smaller pot 1/2 - 2/3 water.
Put all ingredients in in larger, top pot EXCEPT vanilla.
Bring water in smaller pot to a boil and keep it boiling while making frosting.
Put larger pot with ingredients on top and begin mixing on high speed.
Mix for 7 minutes non stop.
It should have a great, thick texture when done. If it isn't as thick as you want, you can mix longer.
Add vanilla and frost your cake.
Then STAND BACK because when the family finds out how good this is, there will be a stampede!!!
Don't say I didn't warn you!!!!!!!!!!!!!!!!!!!!!!!