Preheat oven to 325 degrees F. Grease and flour a bundt pan very well.
Shred enough carrots to make 2 ½ cups worth and set aside. Shred the carrots thinly.
Take 1 to 1 ½ cups of the caramel chips and pulse in a food processor to break them up a bit. If you don't have a food processor, just put them into a large ziplock bag, seal it, and use a rolling pin to break them up. (You need the chips smaller, so they don't sink to the bottom when baking and to distribute the caramel taste throughout the cake better. Set the caramel bits aside.
In a medium sized mixing bowl, add the eggs, oil, milk and vanilla. Mix well with a whisk and set aside.
In a larger mixing bowl, add the flour, sugar, salt, baking powder, baking soda and cinnamon. Mix with a whisk well.
Pour the liquid mixture into the dry mixture and mix with a whisk or wooden spoon.
Add in the carrots and chopped caramel chips and stir.
Pour into greased and floured bundt pan and bake at 325 degrees F for approximately 55 minutes. A tootphick inserted into the center will come out with a few moist crumbs on it or clean, but no raw batter.
Cool on a wire rack for about 20 minutes. Release from the pan and let cool completely on a rack.