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Heat oven to 325 degrees F.
Crust: Mix crushed wafers and sugar then stir in melted butter. Press wafer mix onto bottom of a greased 9-in. springform pan.
Arrange whole vanilla wafers around sides of pan.
Filling: In a large bowl, beat cream cheese and sugar until smooth. Next beat in sour cream and vanilla. Add lightly whisked eggs; beat on low speed just until blended. Pour over crust. Place pan on a baking sheet.
Bake until center is nearly set, 55-60 minutes. Cool on a wire rack 1 hour. Refrigerate overnight, covering when completely cooled.
Topping: In a microwave, melt caramels with milk; stir until smooth. Drizzle over cheesecake; sprinkle with pecans.
To freeze cheesecake: Wrap individual portions of cheesecake in plastic wrap and place in a resealable plastic freezer bag. Seal bag and freeze. To use, thaw in the refrigerator.
Watch the video to see how to make this delicious dessert!