Melt caramels with 1/3 cup evaporated milk in double boiler. Grease and flour 9 x 13 inch pan. Blend cake mix, butter 1/3 cup evaporated milk and nuts until moist. Press a little less than half into pan and bake 6 minutes.
Sprinkle chocolate chips evenly over baked mix and pour caramels on chips. Cover with remaining cake mix, flatten with hands. Bake 15 to 18 minutes. Let cool before cutting.