Caramel Flan

My mom and dad make an amazing flan. I can't ever order it at restaurants because it just isn't as creamy as theirs!

1 ½ cup sugar
2 T. water
6 eggs
2 tall cans of evaporated milk
2 tsp. vanilla

Combine sugar and water in a small saucepan. Cook over medium heat, stirring constantly until sugar dissolves; continue cooking until syrup turns golden brown. Pour into 8 cup ring mold. Quickly tip and turn mold to coat bottom and sides with syrup. Syrup with harden quickly. Beat eggs slightly in a medium size bowl; beat in ¾ cup sugar, evaporated milk and vanilla. Strain into prepared mold. Set mold in a baking pan, place on oven shelf. Pour boiling water into pan to a depth of about 1 inch. Bake at 359* for 1 hour or until custard is set. Remove at once from pan of water. Cool, then chill at least 3 hours