Melt caramels in cream in top of double boiler. Cool slightly. Set aside. Heat oven to 350°. Lightly spoon flour into measuring cup; level off. Combine flour with remaining ingredients except chocolate chips and pecans.
Press 1/2 of crumbs in bottom of ungreased 11x7-inch or 9 inch square pan. Bake for 10 minutes. Remove from oven. Sprinkle with chocolate chips and pecans. Spread carefully with caramel mixture.
Bake for 15-20 minutes longer until golden brown. Chill 1-2 hours. Cut into bars.