For Cupcakes: MELT butter in medium saucepan over medium-low heat. Cook an additional 7 to 8 minutes or until butter begins to turn golden brown. Remove from heat. Pour into small bowl; let cool to room temperature.
HEAT oven to 350°F. Line 24 muffin cups with paper baking cups. Stir together flour, baking powder and salt in medium bowl.
BEAT browned butter and sugar in large bowl with electric mixer on medium speed until creamy. Add eggs, one at a time, beating 2 minutes. Add flour mixture in thirds, alternating with milk. Beat in caramel topping and vanilla until smooth. Stir in pecans. Divide evenly into prepared baking cups.
BAKE 17 to 21 minutes or until toothpick inserted in center comes out clean. Cool in pan 5 minutes. Remove to wire rack to cool completely.
For Frosting: BEAT cream cheese and butter in large bowl with electric mixer on high speed until creamy. Add powdered sugar and vanilla. Beat 1 minute. Beat in caramel topping until smooth and creamy. Frost cupcakes. Garnish each with 1 pecan half on top center of cupcake.
TIP To toast nuts: Place nuts in dry nonstick skillet. Cook over medium heat, shaking pan until nuts are lightly browned. Remove from pan immediately to avoid over-browning.