Preheat oven to 350 degrees. In a small saucepan, melt caramels in 1/3 cup of the evaporated milk over low heat, stirring occasionally until smooth.
In a large bowl, mix together remaining evaporated milk, the cake mix, and butter. Press half of the mixture into the bottom of an ungreased 9 x 13 baking pan. Bake 10 minutes or until set.
Sprinkle with chocolate chips and 1 cup of the pecans. Top with coconut and the caramel mixture, spreading it to the edges of the pan. Drop by teaspoonfuls of the remaining cake-mix mixture on top. Sprinkle the top with remaining pecans. Bake 20 to 25 minutes. Let cool in the pan on wire rack. Cut into bars and serve warm or at room temperature.