Preheat your oven to 325°F. Generously spray a 12-cup Bundt pan with cooking spray (or grease it well) and thoroughly dust it with flour.

In a large mixing bowl, beat the softened butter until creamy.

Add the light brown sugar and granulated sugar, beating the mixture until light and fluffy.

Add the eggs to the butter mixture one at a time, mixing well after each addition.

In a separate medium bowl, whisk together the all-purpose flour, baking powder, and salt.

Add the dry flour mixture to the wet batter alternately with the whole milk, beating until just combined.

Gently stir in the toffee chips and chopped pecans using a spatula.

Spoon the thick batter evenly into your prepared Bundt pan.

Bake for 85 minutes, or until a wooden pick inserted into the center comes out clean. Note: To prevent excess browning, cover the top of the cake loosely with foil halfway through baking.

Let the cake cool in the pan for 10 minutes.

Carefully remove the cake from the pan and let it cool completely on a wire rack.

Once the cake is completely cooled, prepare the caramel drizzle (instructions below) and spoon it over the cake.

Directions for Caramel Drizzle:

In a medium saucepan, combine the sweetened condensed milk and brown sugar.

Bring the mixture to a boil over medium-high heat, whisking frequently to prevent burning.

Reduce the heat and SIMMER for exactly 8 minutes, whisking frequently.

Remove the saucepan from the heat and immediately whisk in the butter and vanilla extract.

Let the caramel cool for 5 minutes before using. Note: Make sure to drizzle the caramel over the cake while the sauce is still HOT.