Mix caramels and canned milk and melt in a double boiler. Set aside.
Mix together cake mix, butter, milk, and nuts.
Put half of batter in a greased pan at 350 F for 6 minutes.
Take the pan out of the oven and sprinkle chocolate chips.
Pour caramel mixture over chips.
Spread remaining batter over caramels as best you can.
Bake at 350 F for 18 minutes, no more, no less.