Preheat oven to 350 degrees F (175 degrees C). Butter one 9 inch springform pan.
Toast the pecans at 350 degrees F (175 degrees C) for 6 minutes. Remove pecans and set aside. Leave oven at 350 degrees C (175 degrees C). In a small saucepan, melt the unsalted butter.
Combine vanilla wafer crumbs with the melted butter then press into the bottom of the prepared springform pan. Place the pan onto a cookie sheet and bake for 10 minutes at 350 degrees F (175 degrees C). Remove and allow to cool.
In a double boiler, or a bowl set over barely simmering water, melt the caramels in the evaporated milk. Stir until smooth. Pour this over the cooled crust. Sprinkle the nuts over the top.
In a bowl, combine the cheese, sugar, and vanilla and beat until smooth, scraping down the bowl several times. Add the eggs, one at a time and beat until smooth. Melt the chocolate chips in the double boiler and mix into the cheese mixture. Pour the batter over the caramel layer.
Bake at 350 degrees F (175 degrees C) for 40 minutes or until barely set. Chill over night in the refrigerator before serving.
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