Spray the baking dish with cooking spray. Place a sheet of parchment paper with overhanging "handles" in it. Set aside.
Place the caramels and evaporated milk into a microwavable bowl. (An oversized glass measuring cup works well.) Microwave on high for 30-second intervals, stirring between each interval. Heat and stir until smooth. Set aside to cool.
Fudge
Add the butter, sugar, and milk to a saucepan with a heavy, thick bottom. Bring to a boil over medium heat; stir frequently. When the mixture reaches a full boil, reduce the heat to low and stir for 5 minutes or until the temperature reaches 237-239°F (114-115°C).
Remove from the heat and add the chocolate. Stir to melt the chocolate. (The mixture will become thick.) Then add the vanilla and marshmallow creme, stirring until mixed. Add the pecans and stir to mix. If the mixture is too thick, add an additional tablespoon of evaporated milk to make it easier to work with.
Place half of the mixture into the prepared dish. Pat to smooth. Dot the top with caramel. Spread it over the fudge. Then sprinkle with sea salt. Repeat, adding the rest of the fudge to the next layer. Then top with caramel and sea salt again. Cool and place the dish in the refrigerator for at least 2 hours. Cut into small squares to serve. The number of pieces this recipe makes depends on the size you cut them.