Line the bottom of a springform pan with parchment paper. Mix crushed cookies and butter together and press into the bottom of the springform pan.
Place caramels and milk in microwave, melt on medium/low power (Careful! don’t burn the caramel because it will be a mess!). Pour over crust but not to the edges. If the caramel reaches the edges it may stick to the pan and be hard to open. Sprinkle pecan pieces over caramel.
Mix cream cheese, sugar and vanilla until smooth; scraping side of bowl to ensure creaminess. This step is very important to ensure a creamy cheesecake and works best with room temperature cream cheese. Add eggs one at a time, mixing after each addition. Be careful not to over mix. Pour this mixture over the caramel layer on top of the crust.
Bake in 450 degree oven for 10 minutes. Then turn oven down to 250 degrees and leave in oven for 40 minutes. Turn on oven light to see if cake has set – you will see SMALL cracks in the top. If NOT you can leave in up to another 20 minutes. When cake has set remove from oven and cool on rack.
Sprinkle pecans on top of cheesecake and drizzle hot fudge and caramel over the top. Cool in fridge. Best served the next day so flavors can blend.