Grease and flour a large bundt pan (This recipe makes 8.5 cups of batter)
Lower the oven rack to the next to lowest position. Preheat oven to 350 degrees
In a separate bowl whisk the flour, baking powder, and spices to combine, set aside for later.
Cream the butter with the paddle attachment in your mixer until smooth. Gradually add the sugar and mix on medium speed until light and fluffy 3 to 5 minutes.
Add the eggs one at a time blending after each to incorporate.
In another bowl, stir together the canned pumpkin, ½ cup milk, and vanilla extract.
With the mixer on low speed, add the flour mixture alternately with the Pumpkin Mixture to the butter, sugar, & egg mixture. Begin and end with the dry ingredients. I add the dry 3 times and pumpkin mixture twice.
Mix until just blended after the last addition.
Fold in the chopped pecans and toffee bits. Pour into prepared cake pan.
Bake at 350 degrees for 1 hour and 5 minutes or until a toothpick can be inserted and removed with with no crumbs or just a few moist crumbs attached.
This makes approximately 8.5 cups of batter. (If you'd like, you'll have plenty to do a bundt cake and two cupcakes for samples). My bundt cake had about 8 cups of batter.
Allow to cool in the pan on a wire rack for about 10 minutes before turning the cake out.
For the Caramel Glaze
In a medium saucepan combine brown sugar, condensed milk, and light corn syrup and heat on medium heat stirring constantly to prevent burning. Try to keep the mixture off the sides of the pan. It can easily burn so watch carefully.
Once the mixture is about to boil, reduce to low heat and simmer for 5-6 minutes. Stir often. Remove from heat and stir in butter, vanilla extract, and salt.
After it cools a bit, pour into a a heat proof bowl. Keep in mind that it will thicken more as it cools. You can refrigerate to speed up the cooling process.
Decorating the Cake
We applied the caramel drip to the cooled cake using a disposable piping bag with the tip snipped away. You could also use a ziplock bag with a small bit of the corner snipped away, or you can spoon the caramel over the cake.
We sprinkled chopped pecans and toffee bits over the glaze as a final touch.