The most common and most likely answer to this crossword clue is the 8 plus 10 letter word ANALCITE (LAITANCE)
A
N
A
L
C
I
T
E
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L
A
I
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A
N
C
E
)
Buddy explains!
The straight part
We know that "milky stuff" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case milky stuff = analcite (laitance).The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.