• Preheat oven to 350F.

Caramel:

• In a mediun size pot, add ¾ cup of sugar and cook over medium heat. Stir the sugar until it begins to brown and clump together. Keep stirring until the sugar completely melts into a golden-brown syrup. Remove and work quickly.
• Pour the caramel evenly into a 12 cup, bundt cake pan. Coating the bottom and the sides of the pan. Set aside.

Meringue:

• In a large bowl with an electric mixer, whip the egg whites until they start to foam. Add about 2 tablespoons of the 1 cup of sugar. Continue whipping and add the sugar gradually until the meringue is shiny and close to stiff peaks.
• Add cornstarch and mix again.
• Using a spatula or a spoon, poor the meringue in the caramelized pan.
• Place the bundt cake pan in a large baking dish and pour enough water in the dish until it reaches about halfway up the pan.
• Bake in the middle rack for 40 minutes, or until firm to the touch.
• Remove from the oven, and let it sit for 20 minutes before removing the floating island from the pan.
• Before serving, slide a knife along the edges of the pan to loosen it up. Place a plate on top of the floating island, grab a hold of both the plate and the pan and quickly and securely flip it over so that the dessert is now upside down. Carefully lift off the pan.