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Preheat oven to 350°F.
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In a large mixing bowl, combine the sugar, cocoa, oil, eggs and milk.
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Combine the flour, salt and baking powder; add to egg mixture and mix until combined.
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Fold in chocolate chips and 1/2 cup walnuts.
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Spoon two-thirds of the batter into a greased 13-in. x 9-in. x 2-in. baking pan.
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Bake for 12 minutes.
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Meanwhile, in a large saucepan, heat the caramels and condensed milk over low heat until caramels are melted.
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Pour over baked brownie layer.
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Sprinkle with remaining walnuts.
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Drop remaining batter by teaspoonfuls over caramel layer; carefully swirl brownie batter with a knife.
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Bake 35-40 minutes longer or until a toothpick inserted near the center comes out with moist crumbs.
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Cool on a wire rack.