Start by unwrapping the 25 caramels and placing them in a saucepan. Add the 1/4 cup of evaporated milk and heat over medium-low heat. Stir continuously until the caramels are fully melted and smooth. Once melted, remove from heat and allow to cool slightly.
In a mixing bowl, combine the softened 6 ounces of cream cheese and 1/2 cup sour cream. Using an electric mixer, beat until the mixture is light and fluffy.
In another bowl, whisk together the instant chocolate pudding mix and 1 1/4 cups cold milk. Whisk until the mixture thickens, which should take about 2 minutes.
Take your pre-made Oreo pie crust and spread half of the cream cheese mixture evenly across the bottom. Pour the slightly cooled caramel layer on top, spreading it out evenly. Follow this with the remaining cream cheese mixture, smoothing it out. Finally, add the chocolate pudding layer on top, spreading it evenly.
Cover the pie with plastic wrap and place it in the refrigerator for at least 4 hours or overnight.
Before serving, heat the hot fudge ice cream topping briefly so it’s pourable. Drizzle it generously over the pie, and top with 1/4 cup toasted chopped pecans for added crunch. Slice into generous pieces and enjoy your Chocolate Caramel Pie!