Preheat oven to 325 spray a 12 cup Bundt pan with cooking spray with flour.
Beat butter until creamy. Add sugars beating until fluffy. Add eggs one at a time.
In medium bowl combine flour, baking powder and salt. Add flour mix to batter alternately with milk, beat until just combined
Stir in toffee buts and pecans. Spoon batter into pan and bake 85 minutes or until wooden pick comes out clean. To prevent excess browning, cover cake with foil while baking.
Let cake cool in pan for 10 minutes. Remove from pan, and let cool completely on a wire rack. Spoon Caramel Drizzle over cooled cake.
Directions for Caramel Drizzle
In a medium saucepan, combine condensed milk and brown sugar; bring to a boil over medium-high heat, whisking frequently. Reduce heat, and SIMMER for 8 minutes, whisking frequently.
Remove from heat; whisk in butter and vanilla. Let cool for 5 minutes before using.
NOTE: Make sure you drizzle the caramel while it’s still HOT. When cooled the caramel does somewhat harden.
NOTE: Fill pan as you would any other cake leaving room for it to rise, you may have some batter left over.
NOTE: I have had comments that the toffee bits tend to sink and may cause the cake to stick to the pan. It has been suggested that you dust the toffee bits with flour and grease pan with Crisco not a cooking spray.