Mix cake as directed on package, pour 1/2 of mix in a greased & floured 9x13 pan and bake at 350° for 20 minutes.
While cake is baking, melt caramels, butter and milk together. Also slightly chopped nuts. When cake is done remove from oven and pour caramel mixture over top. Cover with chocolate chips, peanuts and spread remaining cake mix over top.
Bake 20 to 30 minutes at 350°. Let cool about 2 hours, then cut into squares.