In a large stock pot melt together the butter, caramel bits, milk chocolate and milk over medium low heat until smooth and completely melted. Stir frequently to make sure it doesn't burn.
1/2 cup butter, 22 oz caramel, 11.5 oz milk chocolate chips, 1/3 cup milk
Stir in marshmallows until they are completely melted.
10 oz Marshmallows
Remove from the heat and stir in the Rice Krispies cereal.
7 cups Rice Krispies cereal
Once everything is completely coated, use a large cookie scoop or an ice cream scoop to scoop cookies onto a lined baking sheet.
Let the cookies set for 45-60 minutes. The bottoms of the cookies will be sticky, flip the cookies over and let them set up for an additional 45-60 minutes.
Stir in an airtight container with layers or parchment paper between the cookies so they don't stick together.