Place caramels and evaporated milk in a heavy saucepan. heat over medium low heat, stirring continually, until smooth, about 5 minutes. Stir in 1/2 cup chopped pecans. Pour into piecrust.
Combine cream cheese, sour cream and milk in a blender. Process until smooth.
add pudding mix; process for about 30 seconds longer.
Pour pudding mixture over caramel layer, covering evenly. Chill, loosely covered, until set, about 15 minutes.
Drizzle fudge topping over pudding layer in a decorative pattern. Sprinkle top of cake with remaining pecans.
Chill, loosely covered, until serving time.
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