For Pound Cake: HEAT oven to 300°F. Coat 9 x 5-inch loaf pan with no-stick cooking spray. Combine flour, baking powder and salt in medium bowl.
BEAT brown sugar, butter and vanilla in large bowl with electric mixer on medium speed until fluffy. Add eggs, one at a time, beating well after each addition. Gradually add half the flour mixture, 1 cup evaporated milk and remaining flour mixture, mixing after each addition, beating on low speed just until blended. Spread in prepared pan.
BAKE 1 3/4 to 2 hours until toothpick inserted in center comes out clean. Cool in pan 15 minutes. Remove to wire rack to cool completely.
For Penuche Frosting: MELT butter in small saucepan over medium heat. Stir in brown sugar and cinnamon. Bring to a boil, stirring constantly. Reduce heat to low. Cook 2 minutes, stirring constantly. Stir in remaining evaporated milk. Return to a boil, stirring constantly. Pour into medium bowl. Stir in vanilla. Cool 10 minutes. Gradually beat in powdered sugar with electric mixer on medium speed until smooth. Drizzle over sliced pound cake. Sprinkle with pecans.