Preheat oven to 350°.
Grease and flour a 9X13 inch pan.
Mix the cake mix according to directions on box.
Pour ½ of the cake batter into the pan.
Bake for 20 minutes.
While cake is baking, melt butter, milk and caramels in a medium sauce pan.
When melted turn off heat.
Remove the cake from the oven and reduce oven heat to 250°.
Pour the butter/caramel mixture on top of the hot baked cake.
Sprinkle ½ of the chocolate chips and ½ of the nuts on top of the butter caramel mixture.
Pour the remaining cake batter on top.
Sprinkle on the remaining chocolate chips and nuts.
Bake at 250° for 20 minutes.
Turn up the oven to 350° and bake for an additional 10 minutes.
Cool and serve.
Chef's notes: Original recipe credited to Chris Means Irving.