Melt marshmallows and butter in a saucepan on low-medium heat. Stir every so often, making sure the mixture doesn't burn.
Once the marshmallows are about 80% melted (meaning you can still make out the shape of the marshmallows but they have melted into each other), add the dry milk in 3 increments, stirring after each addition to incorporate.
Once the dry milk is well mixed into the butter and marshmallows, remove immediately from heat and scrape the mixture onto a Silpat nonstick mat or a piece of parchment paper.
Working quickly, grab a heaping teaspoon of nougat. (Once you make the initial measurement, feel free to eyeball the amount from then on.) Pull the nougat until it forms a rectangle roughly the size and shape of a cracker. Place on top of one cracker, and top with another cracker. Press down gently but firmly to encourage the cracker to stick to the nougat--not too hard, or the crackers will break. Let cool and serve. Store in an airtight container. After the first day, microwave the crackers for 10 seconds immediately before serving in order to soften the nougat and refresh the crackers.