Prepare cake mix according to package directions. Place cupcake paper liners in 2 (12 count) muffin pans. Divide half of the batter among pans. Bake in preheated 350° F for 7 minutes. Remove from oven.
In medium saucepan, melt caramels, evaporated milk and butter over medium heat, stirring constantly. Pour over cupcakes. Sprinkle with chocolate chips and pecans. Pour remaining cake batter over pecans.
Continue baking 10-15 minutes longer. Remove from oven and allow to cool completely.
Spread frosting on top of cupcakes and top with pecan halves.
Tip: If you only have one cupcake pan, keep cake batter refrigerated until ready to make second batch.
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