"I'm very busy now and I've given up on dating entirely," the Oscar-nominee told PEOPLE at Missoni's New Yorker's for Children benefit Wednesday night. "I hate dating .... That's not true. I enjoyed it – for a while."
Don't friends set her up with stellar candidates? "Not so far," said Madsen, who has a 13-year-old son, Jack, with Antonio Sabato Jr. (Her three-year marriage to actor Danny Hutson ended in 1992.)
"I've gone back to the idea that love is going to walk into the room, that fireworks are suddenly going to go off," she added. "That's how it happened for anybody I know who is in love and has a long marriage. They fell in love almost immediately."
In the meantime, it's not as if Madsen has sworn off men completely. Asked what she wants for her 47th birthday this fall, she mused, "A trip to Tahiti with a really beautiful Italian man."