1 (15 ounce) can sweetened condensed milk
3/4 cup melted butter
1 cup white sugar
2 tablespoons butter flavored extract
1/3 cup caramels
1 cup semisweet chocolate chips
In a large bowl, combine the milk, margarine, sugar and butter flavoring. Mix well to blend. Place the chocolate chips in another large bowl. Cover and refrigerate for at least 2 hours.
When the chocolate chips are ready, combine them with the milk mixture and mix well. Place on individual serving dishes or refrigerate.